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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...
Madeline Hill; Senior Community Pioneer
Madeline Hill may be unique among senior community developers. She created her multi-million dollar “city,” – an upscale, yet affordable group of single-family homes, condo’s and apartments -- not so she could become a rich and powerful CEO, but so...
Reloading The Matrix with Jada - Mrs. Smith that is!
It has been nearly two years since the fabulous Mrs. Smith has graced audiences with her presence on Hollywood’s silver screen. This month, Jada shows audiences that the wait is over, starring in the highly anticipated film The Matrix: Reloaded. ...
Whose Goals Are They?
Many have goals, but few reach them all. Businesses like sports teams aspire to making goals (gaining points) to earn rewards. Are your goals clichéd with being productive? Why is it so difficult to set realistic goals that 100% of the time you...
Worse Than Tsunami, Trade Protectionism Hurts Third World Citizens
Last Thursday, I was heartened to read the news that my church, Southeast Christian Church in Louisville, KY, had collected $732,000 from its members (beyond its weekly giving) for tsunami relief in Southeast Asia. That partially offset the news...
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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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