4x return is amazing! I wish I’d realized how cheap condos in Mountain View were at that time. I was so focused on San Francisco. Maybe I could have stretched and afforded one more little condo! Oh well, too late for fomo now
Yes, often times HOAs cite ability for FHA loans as the reason to limit rentals. Also new condos will often have that rule in place as well, limiting usually to 20-25%.
Maybe it’s time to sell. A limitation on rentals usually hurt appreciation.
Yeah I’ve thought about it. But I have a really nice easy tenant and my property tax is locked in very low. I will consider it if my tenant leaves.
It could, but who wants to buy a primary home in a complex full of rentals…Many banks will not lend if there are more than 30% rentals…it is a balancing act…
In Vallejo you can buy 5 condos at the same price. Rent is $1650 per condo so gross is $8000!
Vallejo >>SF >> SJ
Go to Vallejo for cash flow.
I prefer a harem
Haven’t you found yours in Houston? One mistress per home. Now you have… 5?
Vallejo rent $1650 for a 2 bedroom condo? Is it regular market rent or section 8 rent?
I think Vallejo could be a good place for section 8 tenants who don’t need to commute.
Wealth level is in reverse order with rental yield. Rich South Bay neighborhood has very low rental yield to reflect its wealth and status.
So rich people should buy South Bay to park their money and pride. Poor people can buy Vallejo to make some cash every month. Hope this will work out to reduce wealth gap. But appreciation is a wild card.
I think the Fannie/Freddie cutoff is 50% rentals. That’s the one that matters, since they own over 90% of the mortgage market.
I have properties in Vallejo, SF, and SJ. Rich or poor I own them all!!!
How do you manage the Vallejo properties? It’s s long drive when you need to make repairs or meet the tenant.
Also Vallejo single family house is not much higher than condo, why condos?
Just call a handyman. Condos much better cashflow.
3-year old TH in SF asking for only 838K. Zillow doesn’t have rent estimate but I think 4k is the minimum.
$4K in Hunters Point? No…
How much do you say? Bear in mind it’s practically brand new.
Not close to T line - I say $3K. Why would anyone rent this at $4K when they can rent a similar condo in SOMA for the same amount? Take this for example:
Even this one has to reduce the rent multiple times. The landlord probably needs to cut it down to $4K flat before someone is willing to sign the lease.
Haven’t looked yet, but are condos like this overbidding 2-300k like they are down in south bay?