Best CA City to buy cash flow properties in
I have 50k to invest, what city should I invest in in California. I rent in SF, but want to buy a cash flowing property to where I can drive to see it. I am open to property management, but want to pick an area where I can invest in multiple properties at as a long term plan.
Any feedback is greatly appreciated!
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I have multiple properties in/around Stockton and like the market for cash flow. I just rehabbed a 2BR/1BA craftsman and the tenant is signing the lease tomorrow. Also in progress on converting a 1/1 to a 2/2 in a great neighborhood and will then rent that for cash flow.
I posted recently about the returns I'm seeing in Stockton. Happy to chat if you'd like to private message me. Since I've mostly used my own capital to this point, I now come across more good deals in Stockton than I have cash to pay for them.
www.biggerpockets.com/forums/99/topics/216502-how-...
With only 50k you definitely need financing. In Stockton you probably need minimum $100k to make any cash offers. A few things to consider which may help increase your available cash to get you over that threshold:
- Do you have a 401(k) you can take a loan out against?
- Do you have a brokerage account you can borrow against?
- Do you have other property you can refinance?
- Can you find a partner to split a deal 50/50 with you?
- Do you have strong income and credit? If so can you get a line of credit with a local bank?
Hope this helps.