Posted by Stacy (AZ) on March 30, 1999 at 14:00:48:
Hello Elizabeth-
I would recommend that you read Ron LeGrand’s article in the “How To” section of this newsgroup entitled, “Triple Your Income in the Next 12 Months”. A shift in focus to “pretty houses” seems in order. Ron’s For Sale By Owner and L/O courses address this, and Bronchick’s L/O and Cash Cow courses do as well.
My $.00000002 Million
Stacy
expensive area - Posted by Elizabeth Davis
Posted by Elizabeth Davis on March 30, 1999 at 13:29:38:
Hello, I live in a wonderful area. One of the most desireable areas to live in California, in fact the nation, according to magazines and such. In addition, the area has only 1% rental property. I own two condo’s in Westlake Village, (Ventura County/Los Angeles County border) where I live and work. My question… are there different approaches to real estate investment in an area such as this?
Thank you,
Elizabeth
Re: expensive area - Posted by Raiko
Posted by Raiko on March 30, 1999 at 21:06:01:
Good Question! I live in San Diego and am humored by all the stories of RE investors on this site buying homes for $25,000 or $40,000 in the south or midwest. Let’s see… that’s a whole $5,000 down for a non-occ loan. That same $5k will barely cover closing costs out here. So, your question is very pertinent for Southern Calif. While, theoretically, the concepts work regardless of the price (and they do) there is still more risk due to the larger $ numbers. I try to stick to the smaller properties although more money can be made with the more expensive larger properties but I am not in that league yet. Perhaps we should take our money and move to Alabama or Texas. : )
Good luck.
Raiko