Crispy3 said:flat or slightly positive... it's really about appreciation rather than cash flow
momopi said:Crispy3 said:flat or slightly positive... it's really about appreciation rather than cash flow
The answer is no. No cash flow, no buy.
RE prices in Riverside County is highly violatile, it can go up by 300% or drop to 1/3 of your purchase price. I have bought properties there with all cash and lost money selling it 2 years later. And I have bought houses there with 25% down and the rent is 2-3 times my mortgage. I would think buying investment homes there with no cash flow is speculative or gambling.
Look up and down the I-15 for better deals.
qwerty said:momopi said:Crispy3 said:flat or slightly positive... it's really about appreciation rather than cash flow
The answer is no. No cash flow, no buy.
RE prices in Riverside County is highly violatile, it can go up by 300% or drop to 1/3 of your purchase price. I have bought properties there with all cash and lost money selling it 2 years later. And I have bought houses there with 25% down and the rent is 2-3 times my mortgage. I would think buying investment homes there with no cash flow is speculative or gambling.
Look up and down the I-15 for better deals.
I agree 100% with momo. If appreciation is your desired outcome then just put your money in stocks or SPY
Crispy3 said:I have a investment property that just went into escrow a couple of days ago (in San Gabriel). It is a condo and I didn't think it is going to appreciate anymore so I decided to sell it.. I figure I'd use the newly freed up $ and find something with more potential..
I'm choosing Corona/Eastvale because I believe it is the next FCB area.. lots of mainland china folks are/will be migrating there. I wouldn't be surprised if a Ranch99 pops up there soon.
I am also already heavily in index funds and other far more riskier investments.
What are the chances of the properties in Eastvale dropping another 30%? it is basically at $160/sqft already. That's like free land!
eyephone said:Crispy3 said:I have a investment property that just went into escrow a couple of days ago (in San Gabriel). It is a condo and I didn't think it is going to appreciate anymore so I decided to sell it.. I figure I'd use the newly freed up $ and find something with more potential..
I'm choosing Corona/Eastvale because I believe it is the next FCB area.. lots of mainland china folks are/will be migrating there. I wouldn't be surprised if a Ranch99 pops up there soon.
I am also already heavily in index funds and other far more riskier investments.
What are the chances of the properties in Eastvale dropping another 30%? it is basically at $160/sqft already. That's like free land!
Resale or new construction?
I didnt hear about the FCB movement to Eastvale.
Crispy3 said:I wouldn't be surprised if a Ranch99 pops up there soon.
choobacca said:Crispy3 said:I wouldn't be surprised if a Ranch99 pops up there soon.
http://www.99ranch.com/stores/corona-california
Corona already has a 99 Ranch.
Crispy3 said:choobacca said:Crispy3 said:I wouldn't be surprised if a Ranch99 pops up there soon.
http://www.99ranch.com/stores/corona-california
Corona already has a 99 Ranch.
Ahh. there you go... I haven't done much research.. will probably head out there in a few weeks to take a look at the neighborhood.. last time I was out there the entire place smelled like cow dung.