All Forum Posts by: Marcelo Martinez

The area there, next to Cal tech is extremely desirable. Studios, 1 bedrooms and even single bedrooms rent out so fast... that it really doesn't matter.

Now: if you have 2 properties : a studio and a condo for the same price and similar sq footage: then of course, go for the 1 bedroom or the 2 bedrooms.

But chances of that happening are slim, so I assume that the studio is cheaper (in price) than the alternative.

This will come down to your purchase power. What can you afford: and will you break even with a studio price at ($X) or a 1 bedroom priced at $x ?

Most likely you will not break even : as most studios and 1 bedrooms in Pasadena : will be between $400k (for a small one) and higher. Together with HOA : and you my friend, will not cash flow... but will have a great property that will continue to appreciate!

If you get a 1 or 2 bedroom, you will probably be able to (for example) put a bunk bed in the bedroom and a bed in the living room: Caltech students will go for something like that (I've seen it first hand).

If your purchase power is anything below $650k (a condo will be your best bet) in Pasadena.

You could also explore further east on the 210 freeway and buy a single family home: but it all depends on your plans, goals, etc.

Thank you Sebastian! I would love to connect with you to talk more about real estate in Pasadena!

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Hello All!

I am looking to purchase a condo to live in then hopefully rent out after a few years. I am purchasing this condo in the pasadena area near the community college and cal tech. My question comes in two parts. First question is: are studios easier to rent out compared to 1 bedrooms? or is it vice versa? As I stated before I am planning on turning this condo into a rental unit one day so I would like to know which one rents out easier. Second Question: Between a studio and a condo, which one is easier to sell? Or is there no difference? I would like know incase I plan on to move on from it later down the line. I would hate to buy something that is hard to sell.

Any input would be greatly appreciated!

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Hello Everyone!

Long time lurker first time poster.

I am not sure if this is the right place to ask this. But I am looking into buying a condo. This would be to live in so it wouldn’t be a rental property. I am looking to spend around $350,000. I would ideally like to put down 3.5%. I wanted to know what the closing costs could possibly be? I’ve read that they can be up to 10% of the price of the property. I also wanted to if part of the closing cost could be rolled into the principle of the condo I am buying?

again I apologize if this is not the right place to ask this! I’ve been doing research online but I feel as though I keep getting different information and am started to get confused .

any information would be great!

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Hello Everyone!

For the past 3 years I have been putting money away for my first real estate investment. I have been toying with the idea of buying a SFH in Riverside in order to house hack it and hopefully add an ADU. Does anyone have any experience with rentals in the riverside area? how do they compare to other areas in LA? Would love to hear if anyone would recommend any other areas besides riverside in the IE or surrounding cities

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All Forum Posts by: Marcelo Martinez

Marcelo Martinez has started 3 posts and replied 4 times.

Post: 1 Bedroom vs Studio Condo

Post: 1 Bedroom vs Studio Condo

Post: Estimated Closing Costs

Post: SFH Rentals in Riverside,CA