I don’t think California’s problem lies in the number of people that WANT to live here. I think it comes down to the number of people that can afford to live here.
The invisible hand has already weeded out those who want to live but can’t afford to do so reasonably.
Chuck
CA Refugee
on August 13, 2010 at 4:27 pm
I recognize Neptune Ave when I see it. I want to live there! I want to move there! I’m just working on the million. By the time I get a million, Jim will definitely be a grandfather.
tj & the bear
on August 13, 2010 at 9:46 pm
Filming while driving backwards? What about filming in the damned rear-view mirror while driving! You’re a wild-and-crazy guy!!!
Seriously, calling any of these places “investment properties” is a joke, unless the point of an investment is losing money. You’d have to put 50% down just to get to 10x. Sheesh.
Geotpf
on August 15, 2010 at 7:14 pm
I’ve mentioned my house in Riverside before. In May 09, I paid $150k for a 4 bedroom/2 full bath, 1,800 square foot house, .2 acre lot, oversized 2 car garage (basically a 3 car, but the door and driveway is only 2 car sized with room off to the side for storage or a shop), huge family room (30’x15′), seperate living room, central A/C. It could easily rent for $1,500 a month (1% of the sold price), probably more. Multi-unit properties occasionally pencil out even better out here.
If you are buying rental properties any closer to the beach than here, you are basically counting on the appreciation alone. They almost never pencil out otherwise, in my amateur opinion.
Nice Caddy, gramps! 🙂
Deep down, you know you’ll have a blast being a grandfather!
Hey, where are the flyers?
“You should live here. You should move here.”
I don’t think California’s problem lies in the number of people that WANT to live here. I think it comes down to the number of people that can afford to live here.
The invisible hand has already weeded out those who want to live but can’t afford to do so reasonably.
Chuck
I recognize Neptune Ave when I see it. I want to live there! I want to move there! I’m just working on the million. By the time I get a million, Jim will definitely be a grandfather.
Filming while driving backwards? What about filming in the damned rear-view mirror while driving! You’re a wild-and-crazy guy!!!
Seriously, calling any of these places “investment properties” is a joke, unless the point of an investment is losing money. You’d have to put 50% down just to get to 10x. Sheesh.
I’ve mentioned my house in Riverside before. In May 09, I paid $150k for a 4 bedroom/2 full bath, 1,800 square foot house, .2 acre lot, oversized 2 car garage (basically a 3 car, but the door and driveway is only 2 car sized with room off to the side for storage or a shop), huge family room (30’x15′), seperate living room, central A/C. It could easily rent for $1,500 a month (1% of the sold price), probably more. Multi-unit properties occasionally pencil out even better out here.
If you are buying rental properties any closer to the beach than here, you are basically counting on the appreciation alone. They almost never pencil out otherwise, in my amateur opinion.