Think outside the box! A smart investment strategy for those who are open to less traditional housing scenarios is purchasing a multi-unit property (ie. duplex or triplex) and living in one unit. This is great way to get a feel for being a landlord and property manager while keeping a watchful eye over your tenant(s). There are some great properties out there in places like Palo Alto, Mountain View, Sunnyvale, San Mateo and San Francisco that are a bargain right now. Pricing is similar to, or lower than single family homes. Also, rental markets are strong so your tenants can definitely help pay the mortgage. One could even enjoy a little "vacay" for being a smart investor and saving some cash over time. Better yet...buy another house!
Forget about competing against everyone looking for the single family bargain. Time to go after a buyers market that's not saturated! well...at least for now...
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