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.
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FollowBefriend (2)44 threads66 comments San Jose, CAcrazydesi's website
stay away from stockton. one of the highest crime rate in nation.
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.