Hello, I'm a first time real estate investor. My husband and I own a house in San Jose and would like to buy an investment home. San Jose is way out of our price range. We are thinking around 400k max. Hoping for hold and sell in maybe 10+ years.
does anyone have suggestions of where in bay area or near Sacramento is good for renting? We are open to anything, just hoping to make money after appreciation. At least semi remodeled
Hey Tracy!! Sacramento has a number of areas that can provide some cash flow , especially compared to the Bay Area property values Sac provides a lower barrier to entry. Some areas I always suggest are West Sac, Natomas, Elk Grove, Meadowview, Rancho Cordova, and Arden-Arcade. Non-Owner occupied rentals with 25% down can easily provide an investor with a decent cash flow in an appreciating market!
I do agree with the referenced locations that DJ Dawson has provided. As a property manager in the area I think you would do well to invest in any of these markets. I can provide you general rental market data for a neighborhood or development that you are interested in make an acquisition. Please feel free to message me to connect.
@Tracy Lau Elk Grove is an extremely hot market. Our properties within that area are receiving a flood of applications within 24 hours, and typically are renting for above the median expected rent. If you can manage to find a deal there, maybe a place that is listed for a lower price that needs a little TLC, you could potentially make out well when it is fixed up and ready to rent.