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May 29, 2008


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Help me out here regarding rule #4--buy cheap or good neighood/school district. I could buy a 3br/2 bath condo in an "aveage" area in the Bay Area for anywhere between 200k-300K. If I wanted to buy in a top area, it's going to be 400-700K. I am buying for INVESTMENT and CASH FLOW purposes, and going to rent it out.

Of course the average district won't rise in value as quick or as much as the top districts, and the rent wont be as high. But then again, I won't be paying double the price and/or worrying about paying my mortgage if a tenant decides to bail out on me.

Any thoughts?

1 & 2 are why we bought a home exactly a year ago. We're not worried about timing the market, since we bought a house we could see ourselves living in for the rest of our lives. It also happened to have the best neighborhood (and schools) of all the houses we looked at.

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