Hello everyone! I've lurked on this forum a few times and would like to begin investing more heavily in real estate. I need some opinions on how to proceed.
I bought my current property in the Bay Area during the downturn. It's in a major tourist city with acreage and 2 houses on the lot. I have about 500,000 in equity. I live in one unit and rent the other.
I would like to rent both properties and would likely net about $1500 per month doing so. This would work well for us as our family is growing and we are in need of more space.
The issue is I would like house # 2 to be a good investment as well so I can rent it in the future if I choose to move. The current market in the Bay Area makes me very hesitant due to the current high prices. I'm looking in the North Bay (Fairfield, Benicia,American Canyon, Napa, Hiddenbrooke). Is it possible to buy a Bay Area house in this market and have it perform well as an investment? It has to be in a nice enough neighborhood for us to live in for 2-3 years.
Thank you!
Gina
