I have a few clients looking in the same category. The 1 bedroom 1 bath condo. I showed several over the last few days. There are 4 types out there: Bank owned, short sales, conventional sales and new construction/conversion.
There are very few available overall. The low end of the pricing in San Diego appears to be about $125,000 (not counting the stripped down REO disasters). For investment, after HOA and taxes it appears you can get a break even on cash flow. Still have to make any profits on the equity increases.
But...prices on these are down for the most part over 60% from their peaks.
I am showing 2 more to a client today which have excellent potential. Either of these will be a solid investment for years to come. The buyer is a college student whose parents are helping out so thet the student has a place to live. It will payoff in the long run.
All college studnt's parents should consider this option!
There are very few available overall. The low end of the pricing in San Diego appears to be about $125,000 (not counting the stripped down REO disasters). For investment, after HOA and taxes it appears you can get a break even on cash flow. Still have to make any profits on the equity increases.
But...prices on these are down for the most part over 60% from their peaks.
I am showing 2 more to a client today which have excellent potential. Either of these will be a solid investment for years to come. The buyer is a college student whose parents are helping out so thet the student has a place to live. It will payoff in the long run.
All college studnt's parents should consider this option!
posted by Alan Schmitt | 8:41 AM
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