Home Buying in San Mateo>Question Details

Tharuna, Home Buyer in Austin, TX

good areas to buy residential investment properties in Bay area

Asked by Tharuna, Austin, TX Thu Nov 21, 2013

What are some of the good areas to buy residential investment properties in bay area? say, under $350k? I'm looking for 2 things: below the market purchase price, and easy renting. How about San Mateo, redwood city? Where can we get good bargains with good renting potential? Hope I'm not asking too much.

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5
Hello Tharuna,
There are 1 bedroom condos available throughout the peninsula available in South Sf, San Bruno , San Mateo and Redwood City. I would be happy to speak with you and help you with a property search.
Best Regards,
Colin

415-971-0558
0 votes Thank Flag Link Mon Nov 25, 2013
Sorry to tell you but we don't have any good areas under 350K in the bay area. However I can find you two out of the three. Which of the three variables are you flexible on? Good Area? Bay Area? Or under 350K? My guess is we should look 30 mins drive or more from the bay area to find you something that would work. You need about 600K to get a 2 bedroom condo in the bay area. You can get a one bedroom for about 400K and up.
0 votes Thank Flag Link Mon Nov 25, 2013
Anywhere around a college or along the 101 corridor.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Fri Nov 22, 2013
The Bay Area consists of 9 counties including Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma. Each have great investment opportunities.

Before guiding you to an area that would work for your particular needs a few questions have to be answered:

1. Are you buying all cash or financing?
2. What kind of return are you looking for?
3. Strictly cash flow?
4. Are you looking to resell in a year or two or is this a long term investment?
5. Do you want a "move in" ready property or are you open to doing repairs?
6. What are your long term goals?

Although $350k may be to low for most of San Mateo and Redwood city, there are many other cities in the Bay Area with good "bargains" which can lend themselves to your needs.

Feel free to email or call me to discuss some options.

Ricardo Archila
650 438-1562
GotaRealtor@yahoo.com
0 votes Thank Flag Link Thu Nov 21, 2013
below market purchase price?

Are you asking for a real estate agent to post, on a public forum, the address of a property that can be bought for less than what other people would pay for it? Are you asking for a stranger to whisper in your ear, "hey buddy I have a really good deal for you"?

Your $350k price is too low for almost anything on the peninsula. However when looking for a property which hasn't appreciated as much in the last couple years, lower prices are the place to look. Less desirable properties have been the first to suffer from downturns and the last to recover. If demand continues to grow, they may return the greatest percentage appreciation.

Rental return is also typically higher for less expensive properties when compared to invested dollars.

Of the 838 homes in San Mateo County which have sold since Oct 1, 2013, 40 of them were sold below $350k.

San Mateo home values can be viewed at http://julianalee.com/san-mateo/san-mateo-statistics.htm
Redwood City home values at http://julianalee.com/redwood-city/redwood-city-statistics.htm

The minimum price recorded during each period is posted in the 9th graph from the top.

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000
juliana@silicon-valley-homes-for-sale.com

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
.
Web Reference: http://julianalee.com
0 votes Thank Flag Link Thu Nov 21, 2013
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