Appreciation is just icing on the cake.

Hi guys,I'm looking start flipping houses & buying & holding rental properties in North Orange County (Santa Ana, Anaheim, Tustin mainly) & Riverside County.I have 15 years of construction estimating & project management experience which helps with the rehab side & recently became a licensed Realtor.  

In Anaheim, Disney basically owns that city, and they don't much care for competition for their hotels ... too much regulatory risk for me.

I've been told appreciation is always icing on the cake, with "the cake" being a good buy.

I'm primarily looking in Santa Ana and Anaheim to buy a 2 or 3 bedroom unit that doesn't require too much work.

Hi BPs, I'm getting an MF with a tenant in a space that's clearly moldy (black spots on wall, and confirmed a nice mold cake in the crawlspace below). 

If you give some more details, I (and many others on BP, I'm sure) would be happy to do some analysis for you.As far as appreciation goes; conventional wisdom on BP tells you to ignore it and just consider it icing on the cake, but I mildly disagree.

Brad in Anaheim

I just went through my first (and second) application/credit/background process with cozy. once you do it once, its a piece of cake, no complaints from either tenants. very easy to set up monthly (pro-rated first month too!)

If the numbers look good, and things are going smoothly with this property, why not have your cake and eat it too.