All Forum Posts by: David Mamsa

Shoulda coulda woulda bought more condos in mountain house, Tracy and Manteca. I bought a few but concentrated more on SFH. Although appreciation is not bad on the SFR but the condos and townhomes more than doubled in 3 years.

I did not know much about loan limits and local banks, so lost out on financing when I could have had a much better ROI.

Biggest was not knowing biggerpockets.com and the wealth of info on here. I was surrounded by folks who never shared their expertise nor guidance-learned my lesson there!!

IMO its not worth it. I have been LL for the last 5 years and had the warranty on all my rentals for the first three years-an absolute waste if I do the math -not counting the brain damage:).

Welcome to BP. You will learn a lot here as I did.

My recommendation would be to keep things local to start with and then expand when you have some experience. I have invested in Central Valley and will continue to do so...

 Hello Anna,

Prices have climbed significantly in the last couple of years and I do not see how they would cash flow (25% down). Rents have climbed not in proportion. In Tracy, for buy and hold I would say Redbridge, Hidden lakes. Ellisagary Ranch would be a good area for buy and hold.

@Jon Strishak Being a Central valley investor I am very interested in your pre-2007 investment strategy with some examples as Minh pointed out. 

@David Cheung. I did not know that you were this close. Please check your PM.

Yes those condos were as low as $112K, I had an approved short sale offer from the bank but the owners decided to stay for an additional month at ZERO rent when I was on my way to escrow to sign :( they ended up getting foreclosed.  I have couple of long term (in MH terms ) tenants in my two condos and the avg rent is around $1500.

@Chris Siegler welcome to BP. I am across the hill in Tracy and invest locally (MH, tracy, Manteca, Stockton). Have plans to expand along HW99 but I not ready to pull the trigger yet.

Yes I read that too on redfin. I think condos and Th which are/were under litigation are/were a great buy although there is some amount of risk involved and its mostly a cash deal. I was looking at adding a couple of 2/2 condos in Mountain House but the price sky rocketed due to FHA lowering their loan limits for the county.

In my area the  trend is slowing down. Tracy, MH, Manteca had rapid price appreciation and  now the inventory is mostly "junk" at the lower end. There are a few 1M+ homes in Tracy that are sitting and mostly due to overpricing. These sellers are way too optimistic IMO

I haven't flipped since late 2013 and sitting on sidelines for now.

If the stock market corrects 20% as some predict  then we will see a price decline in the central valley.

May not be the case any more. I own a few in Manteca and surroundings bought during 2010-2012 time frame which are cash flowing. If I had to buy the same property today I wont cash flow.