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Santa Cruz, Ca. Is A Great Place For Real Estate Investors
Santa Cruz, known for the beach, the boardwalk, Pacific Ave, hippies, and organic food, along with University of California Santa Cruz is also probably the best place for investors looking for rental properties right now. Here are some reasons why.
62% of Santa Cruz residents live in rentals, compared to a ntional average of 43% Average sale price of Santa Cruz homes has doubled in the last 5 years Cap rates for Santa Cruz rental properties are between 3.5-4% very easy to obtain, as opposed to 2.5-3% in The Silicon Valley No rent control but there is a one year moratorium on Santa Cruz short term rental permits so Air B&B investments not the way to go now. While the market is apprectiating the competition for investment homes in Santa Cruz is not as great as in Silicon Valley There are still Santa Cruz home sales contingent on the sale of another property, making 1031 exchanges much easier. Accepted offers almost always have contingnecies so you have time to figure out if the property makes sense for your portfolio. Would you rather visit your rental property in Santa Cruz or Milpitas? I would pick Santa Cruz any day. UCSC only guarentees housing ... more

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