Seeking Advice re:Rentals in Vallejo
Are there any active landlords in Vallejo? It seems like an area if you find a good deal it would hit the 1% rule.
Do you see rents climbing with expanded ferry service?
Are you looking to buy more properties or waiting for a correction?
Most Popular Reply
@Sean Walton - closed on our first investment property in Vallejo recently and managed to hit the 1% rule on a duplex. We looked at the market near downtown and ferry access, but ultimately went for a property on the east side of the freeway. Still big fans and believers of the Vallejo downtown area.
SFR inventory is more readily available compared to the very limited MF options... so I think it just depends on your strategy. We were specifically looking for a 2-4 with some cashflow to buffer against a correction impact on rental rates.
Analyzed dozens of properties over the course of 6 months, made offers on 3 properties... and closed on a property that met our rookie-level criteria.
Personally, I do expect rents to decline... but if you find the deal that bakes in correction protection... i'd say go for it. Others may say that this advice is "blind leading the blind"... since we've only done 1 deal.
Best of luck out there!