They can also be disastrous. I saw a lot of property destruction when I was in college. And, I wasn’t a frat rat. (I wouldn’t have joined a fraternity if my life depended on it!)
College students can be very destructive. Especially in this day and age when most kids have never been away from their parents before moving away to college. They have no idea how to behave without a parent to tell them what to do.
It was not that different in the late 70’s when I was a student…at UC Davis. The immaturity and complete lack of self sufficiency of so many of my cohort in college remains one of my great disappointments in life.
Used to be super high caps for college rentals…I remember rejecting a deal near Fresno state…$18,000 a door…ridiculously high cap rate. but also high vacancy and maintenence costs…Too much work and too far away…Fresno is still one of the cheapest places to rent in the country. …
Wow, ok, I don’t believe that practice ever happened in SF Chinatown but I could be wrong. You do see a hint of this discrimination sometimes in chinese restaurants where the local chinese might be able to order off the menu whereas the “tourists” get the menu items only.
Not discriminatory really. Tough salesmanship. And, naivety on my part.
I don’t fault the shop owners for it. Actually, I found it kind of funny. And, my coworker was also a friend.
We used to go to Peonies for dim sum occasionally. He and the other folks that went with us knew what they were doing and discussed the offerings with the waiters in Cantonese. I had a great time. I seldom knew exactly what I was eating but did not care. It tasted good and was interesting, albeit not cheap.
The group consisted of several Chinese from mainland China and Hong Kong (this was in the late 90s). But one of the group was from Singapore. The others would make fun of his ordering, saying he was trying to speak Cantonese but had a Mandarin accent.
Me? I just kept my mouth shut or full of good food. I couldn’t tell Mandarin from Cantonese if my life depended on it.
Hey, my former business partner was from Jakarta. He always ordered off menu. He told me that every Chinese restaurant had a specialty that was not on the menu. He said there were Chinese characters on the outside of the restaurant that told you what that was. I never knew differently.
A few months back, I went and took a look at a few properties in Fresno. Seems like decent cap rate, but that town depress me. Even with hub & maintenance station for HSR. What’s your take on Fresno these days?
Fresno is cheap for a reason …but there is upside potential with ever growing Latino community, I just don’t know that market…Stockton is a better bet …try further south…I am in Cabo San Jose. .My buddy bought his house in 2014 on the golf course, walking distance to the ocean right after the hurricane for $250k, now worth $750k
Cabo feels like Newport beach…and probably safer…There is a Wallmart 3 blocks away…Everything is clean and new…Tons of money coming in from the US, Canada and mainland Mexico…It has been growing steadly since the seventies. .One of the most expensive places in Mexico…lots of young Mexicans with their families. .lots of hope and opportunities. …nothing like the American press view of Mexico
I miss Sacramento. I lived in midtown back in 2004. The neighborhood was just starting to get hip. Lots of restaurants and bars were opening. It was a blast. Urban but with cheap rent and tree lined streets.
I’d move back to Davis or a family friendly area of Sac in a heartbeat but jobs are here…
Davis was the friendliest place I have ever lived. Mostly students and university employees so neighbors were educated and interesting. Pace of life was slower. No one is doing a 2 hour commute so they are out socializing with neighbors and friends in the evening and on the weekends.
Maybe for retirement. I doubt we will ever leave the bay but you never know.
Lower cap rates means higher desirability. .Tahoe is part of the Sac MSA and the cap rates buyers will pay has dropped dramaticly…One realtor told me people are paying 4 caps for duplexes. .Partly because appreciation and rents are increasing. .But mainly because of an inventory shortage and increasing demand…
