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Investment property

By whybother   Follow   Wed, 8 Jul 2009, 9:37am   322 views   2 comments
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Hi All,

I'm thinking time to start to invest in income property so i saw there is a aparment with 10 units - 1 bed room asking for 450k in Stockton area. Gross income = 60k/year. Net income = 30k/year. Is this good to invest? Is Stockton good place to invest ? Or just park my money in bank.

I have 100k in saving and a house in bay area.

Thanks

Sony

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1. crazydesi Follow Befriend (2) 44 threads 66 comments San Jose, CA crazydesi's website

   1   9:56am Wed 8 Jul 2009   Share   Quote   Permalink   Like   Dislike   stay away from stockton. one of the highest crime rate in nation.

2. greenmax Follow Befriend 1 comments

   2   10:03am Wed 8 Jul 2009   Share   Quote   Permalink   Like   Dislike   Will you be able to afford it. AFAIK, buying a 4+ multi family requires some sort of a business loan, which needs 30+% down payment. For a 450k house, that means a down payment of 135K+. I might be wrong, but I thought it would be best to bring this to your notice. Please correct me if I am wrong.