Monterey County investment in Multi Res or Residential?

Question

Hi all:

1)I am hoping to invest in some property near the Bay Area? Monterey County? Residential or multires. I just started looking. What are your thoughts?

2) Should I declare income that I receive from renting a bedroom on my taxes to help elevate my income levels?

Gayle Eisner · Answer

Well, I owned a property in Seattle. The property management company was horrid and I lost s lot of during the recession. By the time I finally got up there, there was moss and plants growing on the roof. My fault for not being more in touch with my property, but it made me not want to invest in something far away-unless I had a good partner familiar with the area and a good property manager. Any suggestions for out of state?

Boris Lubovich · Answer

Gayle,

Any specific reason you want to invest in Bay Area (besides being close to your investment property)?

I personally invest out of state and I think it makes much more sense. You can have a much better price to rent ratios, laws are typically landlord friendly out of state, no rent control ..etc.

It is really applied to both SFH and multi-family...

Monterey County investment in Multi Res or Residential?

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