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Alternative Retirement Income Options in 2005
A very wise and good friend of mine told me once: "One good investment is worth a 'lifetime' of labor." After reading this article, the wisdom behind this statement will be clear to you. The big question we should all be asking ourselves is "how...
Coaching Generation X
It has been said that Generation X is the most ignored, misunderstood, and disheartened generation our country has seen in a long time. No one can define who belongs to Generation X. While most agree that there is a generation after the Boomers,...
Good News in Our Brave New World
As the year 2001 winds into its final quarter, it is safe to say we're not in the 20th century any more. The unprecedented long cycle of prosperity we enjoyed in the 90's led many to believe that we were experiencing a new economy; one that was...
New Year's Resolutions for Your Home Business
"Happy New Year" may be the most positive phrase in the English language. For those whose fortunes were less than they desired over the last twelve months, the new year is an opportunity to close the book and start afresh. Those lucky souls who came...
The Musketeer Approach
Stories of intrigue, treachery, politics, lies, double crosses, and power struggles fill the history books, much like they fill today’s headlines. In the world of the 17th century musketeer, life depended on who you could trust. In the world of the...
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Downtown San Diego Condo Market is Ideal for Investors.
Savvy condo investors are looking to Downtown San Diego to purchase investment properties to replace the disappearing apartment buildings that are being converted to condos. Today there is a relative abundance of entry level condos available due to several new buildings being sold as condos that were originally being constructed as apartments. According to Mark Mills, Realtor with RE/MAX Real Estate Consultants, in San Diego, you also have several existing apartment building that will soon evict all their tenants and sell their refurbished units as condos. This is really going to drive the rental prices up in downtown. If a building is not currently being converted to condos or in the planning stages, it is either below the quality standards required by downtown condo buyers or its location (usually in the East Village) is so bad the demand for that is still a few years out.
Wealthy California real estate investors have know for years that making money in California real estate is not about cash flow, its about appreciation. Stated another way, if you're worried about cash flow, you bought the wrong property. Downtown's housing market is very
dynamic and the two influences of local politics and the cashing out of apartment building owners will make housing less affordable in the next 5 to 10 years. Local governments are subsidizing builders of low income apartment housing and no one is building anything for the middle or upper class to rent. Demand exists for luxury condo/apartment rentals in downtown. According to Mills, there is a segment of the market looking for condos rentals over $3,000 per month. Most of these renters are either new to town or in transition between homes they own.
If you're looking for a rental condo in Downtown San Diego you will be in for a pleasant surprise over the next few years as you will get a bonus on your investment, increased cash flow. Rising rents are inevitable with the shrinking of the available rental units. Remember, the cash flow bonus will also make your investment property appreciate faster because it's generating more cash.
You can visit the website of Mark Mills at http://www.LiveAtTheTop.com
About the Author
RE/MAX Realtor and Economist focused on the downtown San Diego real estate market.
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