Home Buying in Concord>Question Details

Vikas, Other/Just Looking in Fremont, CA

I am looking for investment property in Concord. My budget is around 200k.

Asked by Vikas, Fremont, CA Thu Nov 29, 2012

I am looking for a property which has low HOA and high rental potential and it is easy to rent out. Ideally, it should be closer to freeway, good schools and low crime rate. Please suggest some areas in Concord.

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Answers

6
Call Mickey Khanna at J Rockcliff Realtors (925) 765 0808... He's the best.
0 votes Thank Flag Link Fri Sep 13, 2013
With your budget of $200K you do not have much of a choice but go after town-home or condo. Your biggest concern should be the Home Owners Association's restrictions regarding ability to rent. You do not want to end up with the property on your hand you can not rent and if HOA will be able to proof you renting it against their rule the penalty fees are pretty high (like $50/day)
For more good information you can go to AccreditedBrokers.com
0 votes Thank Flag Link Mon Jan 28, 2013
If your money is liquid, I'd suggest partnering with an investor/contractor that specializes in purchasing at the trustee sales. I have reliable sources that I've personally partnered with and referred investors like yourself to that have had success. The agents below are correct. If you were able to purchase below $200k there would be little to no room for profit with the low inventory and amount of buyers.

Thank you,

Wes
0 votes Thank Flag Link Thu Nov 29, 2012
Be sure to look for properties priced under what you want to pay. Most properties receive multiple offers resulting in sales prices thousands over the asking price. My last condo listing was offered at $155,000 and sold for $180,000 cash. Many HOA's have rental restrictions, so be sure to have your agent verify that the unit can be rented.
0 votes Thank Flag Link Thu Nov 29, 2012
Dana Garden's, Tapestry. Owner Occupancy % rate needs consideration before purchasing.
0 votes Thank Flag Link Thu Nov 29, 2012
This will be a challenge unless you are able to fix up a property and pay all cash or have 20% down payment. The investors similar to yourself are out there making offers and driving up prices all through the county. It appears that you are considering a townhouse/condo as well. I can set you up on a search if you contact me offline.
Regards,
Suzanne Looker
0 votes Thank Flag Link Thu Nov 29, 2012
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