Buying in downtown oakland

[Andrew Kasbari]

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!

[David Weintraub]

Originally posted by @John J.:

Friends of mine ate at Oakland downtown at night. 

Their car was parked next to the restaurant and was broken in. 

There were also a few cars getting breaking in too next to their car. 

Good luck.

 My friend lived in the West Village in New York.  His car was stolen.  Same week a person was shot and killed.  Then I saw in the news the other day in some sleepy Texas town that some psycho killed people.  Things happen.

Lived in Oakland for a long time.  Favorite city in America.  Downtown has it's issues, especially off China town, etc, but I think if you're close to the BART, near Laney, there's real value.  Obviously some real rough spots, in and out, but I still think it's going to come around.  Not sure I'd live there with my kid right now, but I'd live there single.  

Guess it really depends on the street.  

I had a gun pulled on me turning right onto Grand by the overpass right past MLK.  It was weird.  I didn't think "Man, downtown is bad!"  I thought, "There's an A$$hole American with a gun..."