Home Buying in 94530>Question Details

Geoff, Home Buyer in 94612

I want to live in my investment

Asked by Geoff, 94612 Sat Aug 2, 2008

I'm looking for a 2-4 unit building where I can live comfortably for a few years while the market stabilizes. I like El Cerrito, Albany, Kensington, Moraga, Alameda and Walnut Creek. Would entertain San Leandro. Ideally, this would come close to cash-flowing, considering a reasonable mortgage on an equivalent unit of the size I'd occupy. 2/2's would be nice, bigger is better. Any suggestions?

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Nothing wrong with the idea. Why don't you build instead of buying though. Its cheaper. Especially with an Architect that sets the budget with you. The existing properties are always going to be escalated in price even in low down turns like we have right now. They are still too high to pencil out.
0 votes Thank Flag Link Tue Sep 25, 2012
Brian, I think your answer is trying to help pinpoint whether this will cash flow or not, but what I'm really looking for is properties or agents that work in the multi-residential arena. Walnut Creek would be a fine choice, preferably downtown and west.
0 votes Thank Flag Link Mon Aug 11, 2008
Hi Geoff -

This is a bit of a tough question to answer because there are some important unknowns that will factor into how close you can come to cash flowing. For example, how much can you put down and what interest rate can you get on your loan? Will you be finding the other tenant(s) or having someone else do it? Will you be managing the property or will you hire this out? Are the units part of an HOA? Etc...

If you'd like help with your search in the Walnut Creek area, let me know; otherwise, I wish you the best of luck!

- Brian
0 votes Thank Flag Link Sat Aug 2, 2008
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