buy a house?

C

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i live between los angeles and san francisco on the california coast...i'm looking at three places

san luis obispo, or

pacific grove/monterey, or

salinas, fresno as investment properties in order to build equity

both places are small towns, both places are above average in land value for sale and rent. both places (slo/pg) seem to have hit the bottom, there is only so much land/water/growth allowed and both places are highly sought after and both places have colleges/universities which make for great rental income.

salinas and fresno are about 3-400 k cheaper, however, their rent is also cheaper, nor would i ever live in those places.

thoughts to those who own homes or looked into it....i currently rent, under my budget, so that this day would arrive, and am thinking of continuing to rent (love my house and location etc....price is fair) and buying cheaper elsewhere to become a land owner in places where buying a home can be 2-300K less and then renting those places out, building equity and then buying my dream home, which in my two locations, san luis obispo or monterey, is about 800-900K+...
 
Yurt said:
i live between los angeles and san francisco on the california coast...i'm looking at three places

san luis obispo, or

pacific grove/monterey, or

salinas, fresno as investment properties in order to build equity

both places are small towns, both places are above average in land value for sale and rent. both places (slo/pg) seem to have hit the bottom, there is only so much land/water/growth allowed and both places are highly sought after and both places have colleges/universities which make for great rental income.

salinas and fresno are about 3-400 k cheaper, however, their rent is also cheaper, nor would i ever live in those places.

thoughts to those who own homes or looked into it....i currently rent, under my budget, so that this day would arrive, and am thinking of continuing to rent (love my house and location etc....price is fair) and buying cheaper elsewhere to become a land owner in places where buying a home can be 2-300K less and then renting those places out, building equity and then buying my dream home, which in my two locations, san luis obispo or monterey, is about 800-900K+...
Click to expand...
Pacific Grove/Monterey...

I loved that place when I was at DLI. If you can afford it, go there young man.
 
1) No clue about Pacific Grove, I think that area is easily over a million in median price and out of my league.

2) My opinion on renting out properties is that it's a hassle and it totally blows. I ain’t never doing that again.

3) My only requirement is to live in paradise of natural scenic beauty, and to be somewhere where there aren’t a lot of conservative rightwing republicans. Accordingly, I’m lucky enough to have positioned myself to decide between Lake Tahoe or the coast. Oh, the horror! Man, how did a hack like me get so lucky?

Good luck in your quest, man.
 
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