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Good First Impressions Count when You Mean Business
First impressions can mean the difference between closing the
deal of a lifetime or getting shot down in flames. When meeting
with a client or a customer for the first time, or interviewing
with your prospective employer, you have just a few...
Office Politics
Office politics! It’s just another way of saying: “The employees are not getting along!”
When so much of a company’s success depends on the employees’ ability to work together as a cohesive team, it is critical that people understand and...
Surviving Corporate Politics Part 2: Keeping Up Appearances
Never a 2nd chance to make a 1st impression, or so the saying goes. We all know that when someone is introduced into your work environment for the first time, their peers size them up immediately. How they are dressed, how they talk, and how...
Tax Reform, My Way
We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and read tape. There are several things...
The Biggest Oil Opportunity In The World – And How You Can Profit From It
Where is the second biggest deposit of oil reserves in the world? In the oil sands region of Alberta, Canada. Oil sands are a thick, viscid mixture of bitumen, sand, clay, and water. Alberta’s oil sands is comprised of 3 regions with the Athabasca...
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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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