When buying an investment property, location is key.? Ask yourself the following questions;
1) What are the schools like?? Do people want to move to this area for schools?? Our school system has fantastic API and AYP scores and we even have people from other countries moving to this area just so their children can attend our schools.
2) Are there any jobs?? In the Bay Area, we have many different employers, from technology companies to educational institutions.? Because of our diversity, this area has thrived, when others have struggled.
3) Is it safe?? Palo Alto, Mountain View and Los Altos have thriving downtowns and people are out and about at all hours.
4) Is the area family friendly?? In Los Altos, we have many different family/kid programs, such as Hidden Villa.? In Mountain View and Palo Alto, there are many different educational and family programs also, from after school child care to specialized summer programs.
5) Do properties tend to historically appreciate or depreciate? Historically, in this area, property tends to hold it's value or go up.? While no one can predict the future, having a past track record of being profitable is another good indicator of strong investment properties.
6) What are the rents?? Would a buyer be able to pay down the mortgage with a tenant's monthly rent payment?? Even if you are paying all cash, knowing you could cover the mortgage if you had to- that is a great indication of a profitable investment.
7) Would you live there?? Nobody wants to live in a slum.? Don't be that kind of a landlord.? Be proud of your investment and make sure it is the kind of place you would be comfortable to call home yourself.? If you treat your investment well, you will find your investment will return the favor.
With all those questions in mind, I can say that the Bay Area is a great place for investment property!
Source: http://www.zillow.com/advice-thread/Best-citirs-to-buy-investment-rentals/468829/
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