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Post by marykent on Jun 14, 2005 20:00:49 GMT -5
I am looking for a property that is cashflowing in Oakland. My friends have pretty much told me good luck! Is it really that impossible?
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Post by Jay Iwahashi, GRI on Jun 23, 2005 20:04:33 GMT -5
Improbable would be the word I'd use. Prices have risen dramatically over the last several years while rents haven't kept up. So unless you plan to put a fairly large down payment or going with alternative loan programs such as interest only or adjustables, you'd be hard pressed to find that goldmine. Even those options may not do it.
Keep in mind your competition is largely comprised of those that are speculating as to appreciation, so cashflow just isn't as important to them. They are simply looking at it from a standpoint of putting $X amount in and making Y% at the end of Z years. And so far, they've made a pretty penny doing so.
Your also facing competition from buyers that plan to occupy one of the units. To them, they already expect to pay out of pocket month-to-month so cashflow again does not factor in.
Is it important that your investment property be located in Oakland?
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Post by brianrey on Jul 19, 2012 3:29:18 GMT -5
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