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Updated almost 4 years ago on . Most recent reply
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Cashflow in Northern California?
I am ready to purchase my property in the bay area. I know historically this is area is known for its appreciation, but I am a little nervous due to the changing economy in this area. Anyone have suggestion on locations in the area where I can find cashflow. We plan to live in Oakland, ca area for a while and so I want to make my first purchase here instead of out of town.
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- Realtor
- Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
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@Brooklyn Wright Welcome to BP! With all due respect to what another poster mentioned, DO NOT base your property purchase based on finding a 1% rule place to live if it's here in the Bay Area at this time unless you are willing to buy a fourplex in an "up and coming, working class, blue collar, D-/F+" neighborhood.
I tell my buyer clients all the time,and especially this last year, be sure you have a pre-approval letter in hand, with proof of funds before having us even begin to show you properties because things move way to fast right now.