Very True.
I am in Los Angeles area. Being a landload with positive cash flow was a day dream 2 yrs ago.
But now the value of property in some Inand Empire has been down to the level of mid 1990s. I purchased one house for $150K that was sold more than 350K 2 yrs ago, another one for $180 K that was sold for $440 in 2006. I rented them out for $1400 and $1750 repsectively. Both houses were built in 2004, with more than 8000 sq ft yard.
I do not see any risks unless some catastrophic events occur (like earthquake).
I am in Los Angeles area. Being a landload with positive cash flow was a day dream 2 yrs ago.
But now the value of property in some Inand Empire has been down to the level of mid 1990s. I purchased one house for $150K that was sold more than 350K 2 yrs ago, another one for $180 K that was sold for $440 in 2006. I rented them out for $1400 and $1750 repsectively. Both houses were built in 2004, with more than 8000 sq ft yard.
I do not see any risks unless some catastrophic events occur (like earthquake).
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