“With the prices down, I’m seeing a lot of good deals. I’m a first time investor and don’t really know what I’m doing. I have $55,000 available. What do you suggest?”
***ANSWER:
An ideal investment for you is a small 2BR condo in an established complex. Condo prices have been hit the hardest, so you can pick up a condo for 250K that was selling for over 300K in 2005.
Expect to be out of pocket a few hundred dollars per month after taxes. In a few years you’ll be looking good.
Remember, this is San Diego, so you’re usually going to have a negative cashflow unless you put down at least 35%.
Check out some of the little condos below as they make may excellent little investments for you…
Maximize Your $$$ Buying or Selling San Diego Investment Property
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