Which area in San Diego for investment properties?

Asked by musicbell, Chula Vista, CA Thu Nov 22, 2012

We will be in San Diego in a month to look for good(bargain) investment properties(possibly 2 townhomes). We are interested in Eastlake area. Any other area to recommend? Our criteria is at least 1000 sq ft, 2 bd 2 bath or more, under $220k. HOA cannot be higher than $200 a month, preferably no to low Mello Roos. Thanks a bunch!

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12
Bill Hays, Agent, Cardiff, AL
Sat Nov 24, 2012
Different people have different preferences and tolerances. For example, the college area - yes higher turnover, BUT also higher rent...so for some, it is a niche. For others, it is a crazy idea. It what makes the world go round!

For me the key is finding a place in which my net return is the highest and the property appreciation has the most potential. In my experience, that is found in SFRs. Both townhomes and SFRs have their upsides and downsides.

Your best bet is to connect with a realtor and begin to work with only that realtor to research and discuss the areas and the markets that may suit your objectives. Don't sign anything, but making this small commitment to the right agent will in turn give them a reason to invest some time into you to really help you get the best perspectives in achieving your objectives.

While you are gone, they can really scour the area and have you up and running when you get back. If they suck, you can move on without a problem. But you won't get the personal attention and level of commitment on the realtor's part that this important investment requires unless you work with one and go from there. Think of it as going to the car dealer and taking a test drive. Find a realtor and take them for a spin! :-)

BeachBrokerBill
CA DRE 01775528
NMLS 980076
(760) 525-8698
0 votes
Jerry Heard, Agent, San Diego, CA
Sat Nov 24, 2012
I have an Excel spreadsheet that you can use to analyze properties to determine what is the best choice. It is easy to use and you can change some of the parameters to meet your needs. You can also use the http://www.rentometer.com site for rent comparables. My clients like and use both tools.

Local Help with Your Real Estate Needs

Jerry Heard
Your Broker
The San Diego Property Shop
http://www.TheSanDiegoPropertyShop.com
jerry.sdps@cox.net
Direct 619-920-9796
Office 619-269-5545
Fax 619-269-9168
CA DRE # 00648687
0 votes
musicbell, Home Buyer, Chula Vista, CA
Sat Nov 24, 2012
Thanks for all your input. I will contact you guys for more listing info. With the trip coming up in a month I really need to start looking closely. The total budget for the investment properties(or property) is $400k so depends on what can command a higher rent. Whether that be one SFR house with lower HOA/MR or 2 townhomes. Would that be harder to rent out a house? And I am not interested in college area because of the higher turnover, that would be a nightmare. I will be hiring a property manager in the area too so if you could share any referral that would be great. Thanks.
0 votes
Jonathan and…, Agent, San Diego, CA
Fri Nov 23, 2012
The eastlake area is a good area for investments although the properties are going on and off the market fast in that area. But that would be a good place to start. There are a few locations in the San Marcos area that might even work out better because of the college. There are quite a few possibilities in San Diego county.

Now is a GREAT time to pick up investment properties in San Diego! I have a number of clients who are doing the same thing and have been very successful this year from it! Feel free to call or email for more information on what I look for when searching for rental properties.

Also feel free to use the free properties search on my website at http://www.mackrealestate.com.

Theresa Mack
858-230-4850
Theresakmack@gmail.com
http://Www.mackrealestate.com
0 votes
Bill Hays, Agent, Cardiff, AL
Fri Nov 23, 2012
I think your criteria is unrealistic as $200/month in HOA/fees will be very hard to come by.

There are approximately 113 propertis in San Diego County that meet your 1000 square ft, 2/2, $220k criteria. Email me and I will send them to you.

To Cory's point, many agents will have an area they prefer and will generally have a bias that direction. You need to be careful not to let your view be clouded by their natural bias.

To Jerry's point, older complex's will not have mello roos like so many newer places in Eastlake. But, it is the newer places that command higher rent.

To Cindy's point, the college area is always a good market for tenants. I owned rentals there for some time. It does come with its headaches though and turnover is generally higher.

Be sure you check out the HOA itself, as a low monthly fee could mean problems in other places, like differed maintenance, lawsuits, and other costs for which assessments can be approved and charged to each homeowner. These assessments can be thousands of dollars....and there is no point in buying an investment that is a money loser if you can ask the right questions and get the right information to avoid it.

Good Luck.

BeachBrokerBIll
CA DRE 01775528
NMLS 980076
bill@coastalhomesofsandiego.com
0 votes
Cory La Scala, Agent, San Diego, CA
Thu Nov 22, 2012
Happy Thanksgiving!

Your best bet right now is to have some listings sent to you, from all areas of San Diego. The Eastlake area is big with Mello Roos properties, because most were built during the boom. I can take your criteria, send you the available listings, and then you'll see the best areas to invest. If you just focus on areas that agents suggest, you may miss a good investment opportunity. Let me know if you want the listings with your criteria, and I'll send them to you. Probably tomorrow morning though!

Cory La Scala
Independence Realty
619-825-6421
c.lascala@cox.net
0 votes
Jerry Heard, Agent, San Diego, CA
Thu Nov 22, 2012
In order to keep HOA fees low and not have any Mello Roos, you should look at the areas west of the 805 in Chula Vista, also Spring Valley, Paradise Hills. Occasionally properties in the SDSU area and Normal Heights come on the market in your price range.
Use my website to search for homes to get an idea of prices of homes that are currently on the market.

Local Help with Your Real Estate Needs

Jerry Heard
Your Broker
The San Diego Property Shop
http://www.TheSanDiegoPropertyShop.com
jerry.sdps@cox.net
Direct 619-920-9796
Office 619-269-5545
Fax 619-269-9168
CA DRE # 00648687
0 votes
Cindy Davis, Agent, San Diego, CA
Thu Nov 22, 2012
Hello,

Any time you buy an attached property (condo or townhome), you are going to have hoa fees. And in Eastlake, many homes have mello roos.

For rental purposes, I think you would do better in the college area (92115), normal heights or north park. A lot of young people live in these area which makes for a great rental pool.

Please let me know if I can assist you in any way.

Happy Thanksgiving.
0 votes
John Arendsen, Agent, Leucadia, CA
Thu Nov 22, 2012
Depends on your price point quality of investment and your geographical preference. Just about anywhere in San Diego is a great place to invest be it entry level or high end there's a great cross section of investment opportunities.

We'd love to work with you. We're a one stop, turnkey, family owned and operated real-estate brokerage, general contractor, landscape and interior design operation with over 100 years of combined experience in San Diego.

We can help you design, build, remodel, add on to an existing property and build additional dweling units i.e. guest home, pool house, granny flat, cottage, casita, etc. We provide all necessary architectural, engineering, landscape design, interior design and property management.

Please feel free to log onto any of our very user friendly websites for answers to all your questions. If you can't find the answers you're looking for feel free to call me on my cell phone 760 815-6977 or email me at onthelevel@cox.net.

Have a very Happy Thanksgiving and Holiday Season

http://www.tagrealestatesales.com
http://www.chadofalltrades.com
http://www.intimatelivinginteriors.com
0 votes
Leah Calegari, Agent, San Diego, CA
Thu Nov 22, 2012
Happy Thanksgiving!! I live in Otay Ranch (near Eastlake) & there are a lot of nice areas here in Eastlake to invest in, lots to choose from. I also recommend the Mission Valley area about 20 miles from Eastlake, very central location. Great for investments.

Leah Calegari
619.723.1009
DRE Lic 01434947
Top Rank Realty
0 votes
William Guil…, Agent, Chula Vista, CA
Thu Nov 22, 2012
Eastlake, Otay Ranch, Bonita, Rancho Del Rey, Sunbow. All of these are very nice areas.

William/Guillermo 619 425-9746
0 votes
Roger Ma, Agent, Chula Vista, CA
Thu Nov 22, 2012
Hope you're having a fun Turkey Day! Eastlake is a great area! I live nearby Otay Ranch, another great area! Call me! Ok, first eat your turkey, then call me!

Roger Ma
Realtor
Chula Vista Real Estate Expert
Turkey Lover
619-254-0466
DRE License 01392571
http://www.rogerma.com
0 votes
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