Updated about 6 years ago on . Most recent reply
Appreciation: San Diego
I am looking to invest in San Diego despite the high costs. I am doing this to reduce my rent by about $1000 month (I have found multifamily properties where the numbers work). I plan to keep the property long term and do not mind weathering a storm. I am evaluating two properties right now. One property is more expensive, has no parking, but is in an area that has experienced great appreciation. The other property is a couple miles away, less expensive, has parking, but has not been fully gentrified yet. I am trying to decide which one I should go with. Me and my realtor discussed that because it is on the fringe of the areas that have been gentrified, it has a lot of room for growth. However, this may not happen, leaving this area further behind as other areas are built up. The cash/expense ratios are very similar on both. Both have been recently renovated.
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@Christian Johnston
Typically they say you can’t count on appreciation w/ your calculations, but the San Diego RE market falls in its own category. Especially w/ all growth that’s on going and forecasted/ongoing development projects.
There are a number of good places to invest right now, and quite a few opportunities zones as well. I’m working w/ a handful of investors ATM doing the same thing.