Home Buying in South Beach>Question Details

tps, Other/Just Looking in South Beach, San Fra...

Looking to buy a property in SF to rent out. Considering loft in South Beach. Thoughts? Better areas to consider? sfh somewhere else? $600k max

Asked by tps, South Beach, San Francisco, CA Mon Jul 11, 2011

Help the community by answering this question:

Answers

7
Dogpatch is the fastest growing neighborhood in SF. It has changed in the past 5 years and will change even more in the next 5-15 years. UCSF is there, maybe Kaiser soon. The Port of SF is building new retail, parks and residential. Schools will follow. I have told every client I can for the past 10 years to invest in Dogpatch. Finding anything for 600K will be the challenge.

Regards,
Theresa
0 votes Thank Flag Link Thu Mar 14, 2013
Make sure you can get a positive cash flow if you buy a rental. This is difficult to do in SF because of the prices. Make sure rent is at least say $300 above your mortgage+property taxes+insurance+hoa. Because you will also have vacancy and turnover costs to factor in. Do not buy a property where you lose money every month unless you are already very wealthy. Even then, have a reason for it.
0 votes Thank Flag Link Thu Mar 14, 2013
South Beach is a popular market to rent in since a lot of new jobs are moving near this area.
0 votes Thank Flag Link Thu Mar 14, 2013
South Beach is great but you really should hook up with a Realtor and let her/him pull up what is available in ALL of the areas you think you might like to live. Then tours can be set up for private showings, etc. Then you can decide which area is the best for you. After that, you can then concentrate on the various properties.

SF's real estate market is very hot these days. Condos are selling within days. Thus you really need to be ready to move on a purchase when you find the right property.

I suggest you do your homework about areas and then concentrate. There are lofts in areas bordering South Beach which are less expensive.

Cheers,
Sally
0 votes Thank Flag Link Thu Mar 14, 2013
Hi TPS-

It's all a function of the space/size and price. There have been some very good deals in South Beach (REO/Short sales) which makes them more attractive as investments. Rent control is another issue so south Beach, because of the age of the buildings, make them better investments than other inner more neighborhoods where more of the real estate is covered under rent control.

I'm happy to talk to you more offline if you wish.

Thanks!

Rich Bennett, Realtor

415.305.4911

Zephyr Real Estate
DRE#01358540
0 votes Thank Flag Link Mon Aug 22, 2011
South Beach has a good future. A lot of tech companies want to be there right now.
Web Reference: http://www.paulhwang.com
0 votes Thank Flag Link Sun Aug 21, 2011
I recommend the East Bay Area in Contra Costa County. I wrote a blog article about 19% return on investment on a house I just recently sold. Let me know if you have any questions.

Marc
0 votes Thank Flag Link Tue Jul 12, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer