looking to buy a rental investment property for around 600 - 650k, not sure where to buy . I have been researching on condos in Oakland and Emeryville , Single Family Houses around Richmond/Concord . I am completely confused whether to get a condo in good area or a single family house a bit far from the city. Any thoughts on people who have invested in a rental property ? TC 250k #sanfrancisco #oakland #emeryville
Oakland is ghetto People getting killed in laptop thefts, google it
I would invest out of state for rentals particularly in states that are more landlord friendly. While you might see some further property appreciation in the bay area, with rentals it's all about good positive cash flow but I think property prices in the area just too high now. If I had to rebuy my south bay rental property now, I'd be way in the red every month.
All of Bay Area is severely negative cash flow , and with recession there will be a further stress.
I’m currently a real estate investor in the Bay Area and elsewhere. What everyone says is true about the current pricing in the Bay Area. The prices would need to drop before you can find viable investments here again. This assumes a cash flow play of course. If you’re in it for the appreciation, that’s a different story but you’ll still be hard pressed to find many places with enough upside over time to make it worth considering vs opportunity cost.
I must say realtors will be reason for next housing crisis if it happens They push others based on noise, give inflated numbers all the time on public forums All trying to make their bread and butter spreading fomo fears
Bay Area is one of the worst places for rental properties unless you are playing heavy leverage games and buying multi units. Worst rental laws, high cost, expensive repairs. Buy out of state. Look into the south like Atlanta for better cash flows.
Thanks for the insights guys !
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I have a colleague who raves about OKC aka Oklahoma City for its high rental yields. Bay Area is not really the best place to invest in rentals anymore.