“With the prices down, Im seeing a lot of good deals. Im a first time investor and dont really know what Im doing. I have $55,000 available. What do you suggest?”
An ideal investment for you is a small 2BR condo in an established complex. Condo prices have been hit the hardest, so you can pick up a condo for 250K that was selling for over 300K in 2005.
Expect to be out of pocket a few hundred dollars per month after taxes. In a few years youll be looking good.
Remember, this is San Diego, so youre usually going to have a negative cashflow unless you put down at least 35%.
Check out some of the little condos below as they make may excellent little investments for you
Maximize Your $$$ Buying or Selling San Diego Investment Property