Investing in Cambria, CA? Water wait list for 20 years + already

[Ken Kwok]

Recently I am researching a small and beautify city in California, Cambria.

A 5,000 sq ft. lot only cost 30-50K with ocean and mountain view. BUT, there is no water supply currently and instead, they have a water wait list #, eg. CCSD water wait list #150 which means you are in the position of #150 when the government started allow people to build house. But NONE of the # was called since last 20 years and that's why the price keep dropping.

I am so interested in buying a lot at $30K and bet somehow the government will allow people to build with water supply.

What do you guys think?

[Carson Wilcox]

hehehehehe... the coast of Ca.....  death trap.  

OK.. so lets assume that you can get a lot for $40k.  and then build on it, and sell it for a profit in any way shape for form...  Do you really think that when they get access to water they are just going to bang out 150 build your mcmansion permits that day?  And for a reasonable cost?  Nope.  Permits and fees are 6 figures on the coast.  It will be VERY expensive and time consuming to build...  better off buying a rat trap in some other coastal area for $$$$ and rebuilding with water rights and dwellings already approved.  Google the words "coastal commission, remodel" and read some of the horror stories.