Profile picture for kristiflowers

Is it worth investing $100,000 in a rental property in North County San Diego?

Is it possible to rent a place out in that price range for more than your mortgage and expenses in this area? If anyone could throw some locations, advice or some numbers out there, I would be very interested.
  • February 22 2012 - Oceanside
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Answers (6)

I know you posted this a long time ago; but Now is a great time to invest before the prices go up... There is a limited time left before prices climb more and more.. I would jump in... Best advice for you....If you need further assistance I can help you as I am an expert on rentals
  • January 14 2013
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I suggest talking with successful investors in the North San Diego county area.  Attend a local Real Estate Investor (REI) Meeting and ask people there.  It's a great resource and free most of the time.  Don't trust realtors for investment advice unless they can prove they also personally invest in real estate successfully (unfortunately most do not even invest at all).  There are always risks to investing in anything.  Run the numbers, talk to people actually doing it the right way, and always think positive!

I suggest :  http://www.nsdrei.org/
Mike Cantu and Ward Hanigan are an invaluable wealth of knowledge.  

These speakers are legit and I might even show up again to hear them speak.  
  • March 01 2012
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Yes, you can get the rental income to cover your mortgage and expenses on $100,000 properties in north county, and you will probably end up with a bit of residual income.

Since the new year, the investor buyer activity has really increased in north San Diego County for a number of factors. It is partly attributed to the rather safe income stream you can get which is better than a CD, savings account, or dividend paying stocks. So you will have competition in buying those properties you are considering.

As I represent a number of investor buyers already, I won't tell you all the communities we are shopping which seem to have the best returns. You do need to get a local experienced agent to help in your endeavor. 

Some number examples are:
$100,000 condo, $300/m HOA dues, $100/m taxes, $30/m insurance, $1100/m rent. You will need at least 20% down, so if your loan amount was $75,000 at 4.5%, you mortgage payment on a 30 year fixed is $380/m. So your net is 1100-300-100-30-380 = $290/m
If you can do it without a property manager, high vacancy, and high repair bills, it is a good income stream. There are also tax benefits. One would also hope there is potential price appreciation since going lower from these levels seems unlikely.
  • February 23 2012
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Talk with a Realtor who knows this area very well. You can find them here under the porfessional section. I would never make that kind of investment unless I know for sure there would be a return down the road. Keep in mind that rentals always need updating. If you spend this, it could continue to cost you over the years. Would it be a good invesment in the long run? Just be careful and take your time learning all the facts.
  • February 23 2012
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Profile picture for dakaiser
That depends on your investment goals. While cash flow numbers are better than I have ever seen, they are still low compared to other parts of the country.I have been an investor for over 20 years and I've wriiten several educational articles for investors at [hotlink removed by Zillow moderator]
  • February 23 2012
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Absolutely! It will depend on a lot of the specifics, so if you want, feel free to contact me directly and we can start to run numbers. I am based out of Oceanside and do property management as well.

Thanks!
  • February 23 2012
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