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Updated almost 7 years ago on . Most recent reply
Investment property in San Leandro
Hi BP folks,
Currently considering to purchase a SFR in San Leandro, for my budget of 600K (20% down mortgage finance). My initial study showed fair appreciation and healthy rental proposition. Low crime rates, decent demographics and commute accessibility. I preferred this area since its drivable (no need of property manager), and no HOAs (like condos/townhomes) to hurt cap rates.
Visited couple of houses in Bonaire/Bal they are 1940/50s built and market looks warm.
Before pulling the trigger, would like to get inputs from the community on few points
1. Potential of area San Leandro. I considered Oakland (pricey), Richmond (safety) they didn't fit my bill.
2. Does investing out of state makes sense, (with property manager etc). I feel bay area/CA is at its peak, Atlanta/Orlando seems reasonable, but I know little about areas there.
Please share your thoughts.
Most Popular Reply
I am not sure why you think San Leandro is cheaper than Oakland.
San Leandro is hot! Oakland is hot! I have been making offers for clients and getting rejected left and right with 60-100k over asking. Market is really tough for buyers right now. Go after cosmetic fixers and back on market ones. Those will serve you better.