I would definitely say Oceanside! The prices are relatively low here, you are next to the beach, 30 minutes from downtown San Diego, right next to the Marine Base.... all of which provide lots of rental demand. Feel free to contact me to discuss further.
If you would like more information on investing in the Dallas, TX area, feel free to contact me.
Keller Williams Elite - Dallas, TX
Condos are not a good investment, unless they are on one of the finest beaches in the world or in one of the most sought-after business districts in the world.
California has neither of these, so if you're buying an investment property in California, buy a single family home or other type of property. But never buy a condo if you can help it.
Condos lose their value first and regain their value last compared to any other type of residential property.
Wherever you decide to invest, make sure there is land attached to the property. The land is where the value is.
There are investment opportunities throughout the state. For the first time in many years, it makes sense to invest in California real estate if you are looking for cashflow.
In Sonoma County we have some great cashflow opportunities. As a feeder county to Marin County, and San Francisco, but not as high priced as those areas, the cash on cash returns on rental properties can be very good. We are experiencing growth in medical and technology fields, with many young people relocating here. We are also a destination county, with our many wineries, vineyards and the ocean.
It really boils down to what you're looking for, and how are you paying? Most condo complexes will require cash,as they don't meet the criteria for a loan,ei; Owner Occ vs Tenant ratio, One entity owns more than 10%of the units, HOA is financially unstable(too many owners behind in dues) You will also need to add in the cost for HOA dues.
Many homes are now under $200,000 in the less desirable areas, but still will bring in $1,000 - $1100 for a 2/1. You can get a 3/2 or even a 4/2.5 for under $300,000 and easily rent it out for $1800-$2000 or more. ..making a house, in my opinion, a better option than a condo. ...but expect competition...and if not a cash buyer,expect to write a lot of offers until you get lucky and beat the cash buyers to the table.
For more information on the Sonoma County rental market, and investment opportunities,feel free to contact me. 707-799-3617 NoDumbQuestion@gmail.com
Good luck to you ~ Allison