Quote:
Originally posted by fintstone
1. Are you still looking on the west side/Rio Rancho?
2. What is your strategy? Are you planning to flip the homes or rent them?
3. Are you building/buying new homes?
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1. NW side, but not Rio Rancho. Too many new homes out there are depressing the rental market. I'm sticking closer to downtown, but still on the NW side. I like the Paradise Hills area a lot am trying to find deals there, although they are hard to find. Leaving SW side alone... what a mess down there.
2. Definitely not flipping.... unless the appreciation is sky-high, like Phoenix, in which case I will happily take the profits and sock them away in something far safer. For me, flipping is 24 months, not your usual scenario. My intent is to keep half of the homes for retirement income, paying them off in 11 or so years. The other half will be sold in 24-36 months to pay off my primary residence here in OC and buy my F40
(assuming there is decent appreciation - if not, I'll just keep them all for retirement income)
3. Buying newer, 2-6 year old existing homes, preferrably with reliable tenants already in place. I'd love to buy new homes in dirt phase, but the builders aren't allowing it right now.