Mark,

I love north county (especially Carlsbad). In fact I have been looking for a house for myself there. HOWEVER, I do not beleive it is the best place for investment as a rental. Generally, the rents are not high enough for the money expended on the property. One of the exceptions is condos NEAR the water. There are a few buidings that seem to specialize in vacation rentals that rent for big money furnished during peak months. Also, La Costa Resort has just built brand new condos which they had a few left for sale 2 weeks ago. They will pay you the rent for two years plus your homeowners (I think) as an incentive to buy. In addition, if you let the resort rent them for you they take a large percentage of the money but they will probably be rented for you the majority of the year. Just like a hotel room. In addition you never have to deal with the tenants. they do it all. Now, where i think there is great opportunity is University City (92122) right next to La Jolla. Condos are a great deal here and renting them is no problem. The students from UCSD gobble them up as rentals. Rule of thumb is $700-800 a bedroom. So a 3 bed. condo could go for $2100-$2400 a month. In addition there are lots in the 300-400k range.

You can search on my website for listings for free. No registration is required.

Thanks,

Sarah Dupree

Sun May 11 2008, 08:38

Hi Peter,

Not many properties in San Diego pencil but the market is a lot better now than a couple years ago.

One of my favorite areas for beginning investors is Oceana, a 55+yrs community in Oceanside. You don't have to be 55 to own them, just to live there. Condos are selling for around $200k and rent for $1200-1300/mo. In my experience, Seniors make great tenants.
There is also a bank owned condo in Encinitas listed for ~$285k in a nice complex that would rent for $1600/mo.

If you want me to email you the listings or show you some properties just let me know, charlotte@sandiegonorthcountyhomes.net or (760) 822-8008.

Regards,

Charlotte Reed

Fri May 9 2008, 00:58

Peter,

Good questions!

If you are seeking cash flow, you might want to consider either the La Cost Chateaus in Carlsbad's La Costa--or North Coast Village at the beach in downtown Oceanside. Both developments offer consistent occupancy and strong cash flow.

If you would like to discuss these options, call either Mike at 760-402-9102 or me at 877-818-8197 to discuss cash flow real estate opportunities in North County San Diego.

Thu May 8 2008, 22:38

Are you looking for cash flow? If so, take a look at http://www.erealtyinvestors.com and see if any of these homes can fit into your investing portfolio.

Wed May 7 2008, 15:18

Hello Pete,
The area of Valley Center, CA is a booming counry town. We now have a sewer and and extension is going in on the sewer. There are a few commercial properties available, real good buys on some very fine homes and we have great schools. Oh yes, our main thorough fare thru town in being widened to 4 lanes for a much easier flow of traffic. This is a find area to raise children, horses, dog, have avocado or citrus groves, faulous views and just nice people. We are near Palomar Mountain so you can gao to the observatory, we have Bates Nut Farm which is great for the entire family and we have Western DAys over the Memorial Day Week end. Valley Center is a very family oriented little town but we do have all the modern conveniences. Come check us out. Sandra Rockefeller-Farmer, Coldwell Banker. e-mail sfarmer@coldwellbanker.com or my cell 760-638-0311 Have a nice day

Wed May 7 2008, 14:51

Hi Peter,

Prices have been descending fairly dramatically in many areas of North County and many are reporting that this trend is likely to continue for some time.

If you also believe this to be true, I would suggest looking for investments which will provide positive cash flow at this point (rather than looking for properties to flip). I do believe in holding a property for appreciation, however, the market will likely take quite a bit of time turn and move in a positive direction.

With respect to where to look, there are a lot of great opportunities all over the county now.
I'd suggest first considering the market you expect to target (young adults, young families, eldery, etc). Once you've done that look at areas that continue to be highly attractive in terms of location, (such as near the beach for young adults, in a terrific school district for young families, centrally located near services for the elderly). Given the likely continued economic decline, you may want to avoid "fringe" areas/markets at this time. Once you've found a property, buy it right! Try to find something in distress where you can negotiate a good deal for yourself. By negotiating your purchase well, you will be able to offer potential renters more incentives while still maintaining a postive cash flow.

Hope this helps... Good luck with your search.

(Just so you know I am not a realtor, however, I am a real estate analyst and cover most of the major markets in San Diego and Southern Riverside counties...)

Regards,
Thor

Wed May 7 2008, 13:26

I agree, talk to a few agents to get an idea of what you can get for your money. There are a good amount of deals going on right now in all areas of North County. If you would like any detailed insight on different areas in North County , I would be happy to help you.
Alison Bell
619-384-6997
http://www.abellre.com
http://bankownedpros.com

Fri Apr 18 2008, 15:34

Hi Peter,

One thing I am impressed by are the answers from both Tony and Sandra. We have found that what you mostly get on this site are opinions, not facts. You really cannot get the answer to your question without consulting a Realtor. Interview two or three and look for straight talk and professionalism.

Best of luck,

Mark & Kari Shea
Shea Real Estate & Investment Group

Fri Apr 18 2008, 05:50

Hi Peter,

That's a good question which a lot of people are asking these days. I guess it is important to know if you are trying to get some positive cash flow, or are trying to flip, or hope to gain from an area's appreciation. Also, the price you are willing to spend will greatly influence the neighborhood choices.

Yes, some parts of North County, or some property types, have had prices fall more than others, but that does not necessarily mean they are the best buys for an investment. I'd be happy to discuss further should you wish to call or email me.

Sincerely,
Tony

Thu Apr 17 2008, 23:26

Peter
I am an agent with Realty Executives, North San Diego County, we have alot of great properities available currently as I am sure you are aware of. I would be happy to meet with you to discuss what your criteria is. If you give me an idea of your price range I can then pull up properities and discuss neighborhoods and rental income potential.I think its a good idea to contact a couple agents that work in this are and get a feel for their expertise. I look forwarad to hearing from you.

Thu Apr 17 2008, 21:56

Peter,
I have worked with Mark Shea and his team numerous times and would most strongly recommend them to you. Mark has specifically handled a few clients for us looking for investment property in south California and we have always been impressed with his professionalism. They specialize in investment property.
Mark@she-realestate.com
www.shea-realestate.com
cell: 858-759-5238
Good Luck
terry@marianschaffer.com
The Schaffer Realty Group

Thu Apr 17 2008, 17:06