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Why San Jose Condos Make Good Rental Properties

 
I am frequently asked by San Jose real estate investors, both veteran and new, what is best for San Jose rental investments, multi- family homes, single family homes, or condos.
 
My first answer has been the same for decades: “Are you most concerned with appreciation or cash flow?”
 
The answer to this question depends on a variety of individual goals. What has changed over the years is what is best for cash flow.
 
Historically San Jose rental property appreciation has been best in this order:
 
     Single family home      Condo      Multi family home  
Historically San Jose rental property cash flow has been best in this order
 
     Multi family home      Condo      Single family home  
This long held wisdom that a multi- family home is the best San Jose rental for cash flow is being disrupted by the latest market forces. Right now, CAP rates are better on newer condos than older multi- family homes, and are much easier to take care of.
 
The CAP rate on a San Jose rental property is a measure of cash flow. To figure it out you take the income minus expenses (assuming no loan) and see what percentage of the price of the property the ... more

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