2016 San Diego real estate forecast. I'd like to say that I've been in the residential real estate business for over three decades! But, I am certainly not an economic forecaster or financial advisor. What I am, is a California real estate broker. So, my forecast here is obviously my best guess of what might transpire in San Diego real estate 2016.
I'm not going to go over the points that I made in my forecast in this video. What I am going to say is that I feel that in today's climate it is extremely risky to use San Diego residential real estate as a speculation to enhance your financial portfolio.
As far as purchasing real estate to build up your rental portfolio, I would leave this concept to the professionals. One must understand that when owning residential income property this is a business that requires your utmost attention to not only ensure you are complying with all the legal requirements a landlord is responsible for, but also that your property is properly maintained.
I always say, that if you're a hands-on type of person and you buy a residential income property within a short distance of your main residence, you'll be able to do a lot of the necessary repairs and maintenance that could save you thousands.
But, before getting involved in San Diego investment residential real estate, it just makes common sense to me that one should invest in their own principal place of residence first.
In many desirable areas within San Diego California rents have been going through the roof during the last few years. So, if you can qualify, purchasing San Diego real estate in 2016 as your principal residence may still make lots of sense, even if home appreciation is flat in 2016.
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