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Updated almost 9 years ago on . Most recent reply
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Is it possible to buy a duplex in Northern California for $100k?
Hello. Is there anywhere in northern California where I can find a duplex for $100k that does not need major repairs? I would consider an SFR, but it seems like multifamily properties have better opportunities for cash flow. I am a new investor (I own one duplex in North Highlands that I basically break even on every month) and I do not have a large down payment. I should be able to come up with $10k of my own money, plus $10k+ from another investor. I really would like to buy a property that has positive cash flow and avoid paying PMI. I live in Sacramento and I hope to find something that is not located too far away (no more that a 2 hour drive, hopefully). Any advice will be appreciated. Thanks.
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A lot of people here have recommended smaller towns around Northern CA, but remember that your tenant base will be smaller and the rent checks will most likely be smaller too. You might go a long time between tenants if either side goes vacant, and that will absolutely kill your cash flow for the year and can be the make or break difference.
Buyer beware, and as the other posters suggested wait to save some more money to get into a fourplex or try buying out of state. Best of luck!