Most California investors are of the small “mom andrnpop” type, owning one to 10 other investment properties. Fifteenrnpercent own only one property, 46 percent own two to five, and 14rnpercent own six to ten. Seventy-eight percent of investorrntransactions involved single-family homes and 14 percent werernmulti-family purchases. Bulk sales made up only 1 percent ofrninvestor purchases. More than two-thirds of investors manage theirrnproperties themselves. </p

Investors spent a median of $272,500 to purchaserntheir properties and eight out of 10 made repairs, spending a medianrnof $10,000. The lower the purchase price the more the investorrnspent, as a percentage of that price, on repairs. Sixty-seven percentrnof investors paid cash at purchase.</p

Thirty-four percent of investors said their motivernfor purchasing was the profit potential, 26 percent said it was thernfavorable price, and 10 percent said low interest rates motivatedrnthem.</p

Foreign investors made up 27 percent of the totalrnwith China, India, and Mexico providing the largest numbers ofrnbuyers.

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of MortgageNewsDaily.com is prohibited.