I’ve heard some people tell me East Palo Alto isn’t as bad as before and is slowly becoming safer and more wealthy. Anyone see similar trends? I am looking to buy a house somewhere and rent it out for investment purposes, looking to keep for at least 2 years. Feels like East Palo Alto may be a good area since it’s next to Facebook. Anyone also looking at similar opportunities?
In term of investing, in the Bay Area, the worse the district is, the better the investment is. See what’s happening in Oakland. The gentrification would double if not triple the housing price in 10 years, if you think it worth the risk for you to live there for 10 years.
Epa won't allow business or gentrification so would avoid unless that policy ever changes.
We have two SFH as rentals. They bring in a decent return per month. It has gone up significantly after we bought it a few years ago so i’m not sure if it’s still a good investment. DM me if you want more deets
Buy SFH with good schools if you want long term family renters and better future appreciation. Most of the single folks or couples without kids buying in bad schools will look to sell their bad school homes to move to better school districts. There are tons of new couples having kids which will cause an explosion in demand for good school district homes in next 5years when kids become eligible
^ this is the better play. I would not advise playing the slum lord card. There’s better options.
Nope nope nope. I bought a 1 bedroom in Palo Alto for 450k in 2012. Others tried to persuade me to do East Palo Alto instead for a "better bargain," and that I was getting ripped off. My 1 bedroom is now worth 1 million. Is that insane? Yes. But it's all about desirable "location" as they say.
Some areas are still bad. As whole dramatically better and will honestly see more house appreciation then the other cities soon. I would do it.