Home Buying in Walnut Creek>Question Details

Goldbergslim…, Home Buyer in San Francisco, CA

Investment rentals outside San Francisco

Asked by Goldbergslim123, San Francisco, CA Mon Aug 5, 2013

San Francisco is quite expensive for purchasing rentals. How are the east bay (oakland) or contra costa (pleasant hill or Martinez, Antioch & discovery bay)?

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I work in East Contra Costa which is still popular with investors. Profits are not what they were 2-3 years ago, but are still very good.

Go to the web site below and get my Free Investing Book. I would be more than happy to show you homes. You can also search homes at the site.
0 votes Thank Flag Link Thu Aug 8, 2013
Almost any place is less expensive than San Francisco. Most communities in the East Bay are showing amazing appreciation right now ... some would say at un-sustainable levels, but in the moderate term you can probably do pretty well. Walnut Creek's average sales price is up 21% from a year ago for detached homes ... but it's up 40% for condos and townhomes ... the difference being that condos dropped much more than detached homes, so they remain a relative bargain.

If you put enough down to have a neutral cash flow from the outset then with the anticipated increases in rents continuing for the foreseeable future you should end up with a positive cashflow down the line... and the appreciation could well be significant.

The key of course is timing. Whatever you decide do not put yourself in the position of having to sell in a specific time frame because if the market takes a downturn you want to hang in there.
0 votes Thank Flag Link Tue Aug 6, 2013
Depends on what your criteria are. Houses? Probably the best. Condominiums? Can't recommend. Multi-Family? Comes down to Property Management and condition/location.
Your question is too broad for definitive answers.
Mike McCutcheon
CPM
Dudum Real Estate Group
Walnut Creek
925-457-3209
BRE 0035462
0 votes Thank Flag Link Mon Aug 5, 2013
It depends on the ROI you want to get. How long will you hold it and what is the price point you are looking at?

Kristin
925.899.7123
0 votes Thank Flag Link Mon Aug 5, 2013
A general answer won't suffice:
Having lived in that area for 20 years, I can tell you that it was great; lots to do, close to it all, and very desirable.
If you want more information, call my home office in El Sobrante and talk to my Broker.
Mike Rowland, 510-222-9150
mikerowland@windermere.com
His PROFILE is also on Trulia.

Good luck and may God bless
0 votes Thank Flag Link Mon Aug 5, 2013
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