San Diego fixer upper
Hi all I was considering buying a home in Encinitas with the idea of living in it, fixing it up a bit and at some point renting it out and moving on to another property. Anyone have any experience with rentals in this area and/or have any insight on the direction of the market in this overinflated and low inventory location?
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It would be tough to make sense of the numbers doing that in Encinitas. Mortgage payments for a property costing $700K would be around $3K. Factor in property taxes and you are looking at negative cash flow.
I love Encinitas/Leucadia as I'm also looking for a property to buy as a primary there, but prices are crazy right now. Unless I find a deal, I'll wait a couple years for a price adjustment.