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Old 04-15-2014, 10:29 AM
 
Location: Passaic, NJ
646 posts, read 922,043 times
Reputation: 187

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Quote:
Originally Posted by oddstray View Post
You're dreaming if you think having only one bedroom will limit the inhabitants to one person.
Then they risk getting evicted if found out and lose their security dep. Like I said, you can screen people carefully to prevent that, but of course stuff can happen, but it's still less likely for it to happen than in a bigger condo. It is what it is. You could also die tomorrow if you walk outside or in your sleep, jus gotta deal with it. There is always risk, but if u dont take risk u wont ever have anything, jus gotta be a calculated risk.
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Old 04-15-2014, 10:49 AM
 
Location: SoCal
6,418 posts, read 11,547,197 times
Reputation: 7093
Quote:
Originally Posted by greenlite View Post
Then they risk getting evicted if found out and lose their security dep. Like I said, you can screen people carefully to prevent that, but of course stuff can happen, but it's still less likely for it to happen than in a bigger condo. It is what it is. You could also die tomorrow if you walk outside or in your sleep, jus gotta deal with it. There is always risk, but if u dont take risk u wont ever have anything, jus gotta be a calculated risk.
And yes, they will. In fact, it's not unreasonable for one person to rent your one-bedroom place, fall in love, and decide to invite their love to co-habitate. Are you going to evict them for that? Would you even be able to evict them for that?

And anyway, do you want to have to deal with evictions from afar?

I completely agree with you - there is always risk. You just sound like you're dismissing it more easily than is realistic.
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Old 04-15-2014, 11:03 AM
 
78 posts, read 133,873 times
Reputation: 55
why dont you find a place outside SD that can net you over 20% return on your cash.. something lower than 120k obviously to see 20-25 % on cash returns.

By this I mean 120k pay 20% down.. rent it out. I you buy it cash usually cash return will be a lot less than 10%.
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Old 04-15-2014, 11:03 AM
 
Location: Passaic, NJ
646 posts, read 922,043 times
Reputation: 187
Quote:
Originally Posted by oddstray View Post
And yes, they will. In fact, it's not unreasonable for one person to rent your one-bedroom place, fall in love, and decide to invite their love to co-habitate. Are you going to evict them for that? Would you even be able to evict them for that?

And anyway, do you want to have to deal with evictions from afar?

I completely agree with you - there is always risk. You just sound like you're dismissing it more easily than is realistic.
If his love moves in and makes it her official residence so they can split the rent or whateva, then yea, he needs to let me know, otherwise it's a breach of contract. And no, I dont wanna deal with it, but I can deal with it if I have to.
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Old 04-15-2014, 11:08 AM
 
Location: Passaic, NJ
646 posts, read 922,043 times
Reputation: 187
Quote:
Originally Posted by andyo4you View Post
why dont you find a place outside SD that can net you over 20% return on your cash.. something lower than 120k obviously to see 20-25 % on cash returns.

By this I mean 120k pay 20% down.. rent it out. I you buy it cash usually cash return will be a lot less than 10%.
Yea, Im tryin to explore all options. Usually, the cheapest places have the most returns, but it has to be in a right nhood that people will always want. By cheapest I mean, cheapest for that specific nhood, which could still be pretty expensive in general, like La Jolla, for example.
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Old 04-15-2014, 11:25 AM
 
78 posts, read 133,873 times
Reputation: 55
there are investors who buy 20 miles even out from their comfort zone... I cant even imagine buying something so expensive that would make even $500 profit while with the same money in other cities you can buy 4-5 properties and make a $2500+ a month. More work, more profits, more risks.
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Old 04-15-2014, 11:45 AM
 
Location: La Mesa Aka The Table
9,787 posts, read 11,443,293 times
Reputation: 11845
You may want to talk to an agent.
End of Thread!
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Old 04-15-2014, 11:50 AM
 
Location: 92037
4,630 posts, read 10,237,057 times
Reputation: 1955
Quote:
Originally Posted by hitman619 View Post
You may want to talk to an agent.
End of Thread!
But he is an experienced investor. I am sure the other properties were bought with C-D intel

OP is form Jersey, Florida would make a lot more sense to invest in.
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Old 04-15-2014, 01:19 PM
 
2,174 posts, read 4,377,309 times
Reputation: 3547
Boy I have a totally different opinion then most on condos. I own condo rentals in sd and I LOVE them. Reasons why are much cheaper maintenance costs (no roof, exterior painting, landscape, etc.. hoa covers those). Also you are able to get condos in highly desirable rental areas where sfr's would be cost prohibitive. However I do not think you can cash flow on a condo in sd right now. I bought mine when prices crashed between 2008-2011 where condos were ridiculously cheap and made sense. I would not be buying rentals in sd now, prices too high. I also have sfr rentals and they have been money pits compared to condos. Way cheaper to maintain condos. I love my little condo investments in sd. Best return on investment I ever got. It pays to go against the crowd. The worries about hoa's are way overblown. Most of that talk comes from people who have never owned condos. Condos are good but you must get your timing right. Only buy when you can steal them, which is not right now.
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Old 04-15-2014, 01:32 PM
 
Location: Passaic, NJ
646 posts, read 922,043 times
Reputation: 187
Quote:
Originally Posted by ctr88 View Post
Boy I have a totally different opinion then most on condos. I own condo rentals in sd and I LOVE them. Reasons why are much cheaper maintenance costs (no roof, exterior painting, landscape, etc.. hoa covers those). Also you are able to get condos in highly desirable rental areas where sfr's would be cost prohibitive. However I do not think you can cash flow on a condo in sd right now. I bought mine when prices crashed between 2008-2011 where condos were ridiculously cheap and made sense. I would not be buying rentals in sd now, prices too high. I also have sfr rentals and they have been money pits compared to condos. Way cheaper to maintain condos. I love my little condo investments in sd. Best return on investment I ever got. It pays to go against the crowd. The worries about hoa's are way overblown. Most of that talk comes from people who have never owned condos. Condos are good but you must get your timing right. Only buy when you can steal them, which is not right now.
Bingo. Homes are PITA, esp for renting, esp from long distance. Condos only have minor issues that u have to worry bout.
They either dont kno what they talkin bout or they jus jealous losers or both
I hear ya on prices and everything. It would be a long term investment tho so it should work out. The prices now might be high, but they keep on rising.
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