New to Monterey, CA area

[Andrew DeMaster]

I'm moving to the greater Monterey, CA area in 2 months -- Pacific Grove to be exact.  We're cashing out of two properties in the upper Midwest and I'm looking to get into real estate investing at some point in the area, especially given Prop 13.   From what I've seen, it looks like cash flow positive, or perhaps even cash flow neutral, on single family rentals is probably not possible with 20 percent down.   Is commercial real estate more reasonable than residential or is it similarly expensive?  I'd appreciate any thoughts real estate investors in the greater Monterey area would be willing to share on the residential or commercial real estate markets.

Cheers,

Andrew

[Jonathan Balog]

Welcome to Bigger Pockets!  I've seen a few good deals in the area just over the past few months on multi-family rentals, but not so many single family with 20 percent down.  Seaside, Marina, and Salinas are three areas where I've personally seen cash flow positive properties change hands over the past few months.

Pacific Grove is a beautiful area and in my opinion priced very well compared to Pebble Beach and Carmel-by-the-Sea.  You'll love it here!  Looking forward to having another BP'er on the peninsula!

All the best,

Jonathan