Buying in downtown oakland
Hi everyone,
First post here and also quite new to the real estate investment scene. I currently live in Adam's Point in Oakland and am looking to buy my first investment property. I'll be living in it for about 2 years until my fiance finishes her dental residency, then we'll be hoping to rent it out and move on to a SFH.
My question is - what are your thoughts on the downtown Oakland market? Some not-so-nice places are popping up on the market for an affordable price, but in less desirable parts of downtown (14th and Madison was one I was looking at). I do know that the downtown Oakland area is primed for the potential of a bunch of new residential and commercial buildings (https://www.bizjournals.com/sanfrancisco/news/2017...), a new wave of companies (http://www.mercurynews.com/2017/04/24/oracle-signs...) and just general growth from the spilling out of San Francisco.
My gut says that this area will be hot in 3-5 years time, maybe less. I really want to jump in on an investment property here so that I can park my cash in something for the next 3 or so years and start building up equity. Would love everyone's thoughts on their general perspective of downtown Oakland, buying rental properties in downtown areas, or anything else! Thanks!