Menu

Home › Forums › Housing › buy & hold rental houses Riverside County?

Viewing 15 posts - 31 through 45 (of 96 total)
1 2 3 4 5 6 7
  • Author
    Posts
  • January 28, 2011 at 7:55 PM #660466
    ctr70
    Participant

    Thanks every one for the great comments! And especially Temecula Guy, thanks for your very helpful input!

    Couple of random comments:
    1. I feel pretty comfortable when I can buy a SFR BELOW construction costs. If I can buy it for FAR less than they can build it, if they EVER build a house again in Riverside Co. I’ll be in the money. Some of these houses just have to get back to construction costs and you will have decent equity. And I think they will get back there and I don’t think it will take 10 yrs. They have not built hardly anything in the Inland Empire (or the entire state of CA for that matter) in 3 years, they won’t build much in 2011, so that is 4 yrs with NO new homes being built (or multifamily). Eventually the existing inventory will get absorbed and I don’t think it will take 10 yrs. That could also push rents up.

    2. I think when you can get an asset below construction costs, 60% below peak price, finance with a 5% 30 year fixed rate, and the tenant can pay that asset off for you in 15 years, it’s hard to see how that is a bad investment.

    3. I do worry about the effect of gas prices on rents and values especially in the far flung regions of Riverside Co. Esp if they get up to $5-$6 a gallon. This fear favors buying close in SD condos.

    What do investors think of condos in San Diego vs. SFR’s in Riverside Co.? Obviously San Diego is a much better rental market and more premium location than Riverside Co., but SFR’s are a more desirable asset b/c NO HOA risks. The cash flow numbers work for a lot of condos in SD County, and in good locations. The numbers do not work great for SFR’s in SD, even SFR’s in rougher neighs.

    Personally I would only go SFR’s in Riverside. If I’m going to buy a condo I would go SD over Riverside in a heartbeat.

    Any thoughts on Vegas and Phoenix? I know both are hurting bad. But like Riverside Co. you can buy way below construction costs and get new built SFR’s that cash flow. Yes I know there are crappy areas in both cities, but if you are careful you can pick the better areas. I hear they do rent up if you are very, very careful on neighborhood selection.

    My personal goal is to get 6-10 houses paid off in 15 years as my personal pension plan. I have the down payments and can get 8 more conventional loans (I have 2 rentals already). I’m 40 yrs old right now. My plan is 20%-25% down on each and get them paid off in 15 years. Just need to choose where and what to buy!!

    January 28, 2011 at 9:16 PM #659362
    paramount
    Participant

    TG: I’d like to ask you a favor – what do you think I might be able to get for rent:

    Paloma del Sol
    1500 Sq ft. 3/2.5 2 car garage
    Good Condition (kitchen about 3 years old, carpet 2 years old)
    7000 sq ft yard

    I see lot’s of vacant houses in my immediate area – not all rentals but certainly noteworthy.

    I am about 1/2 mile or less from Sparkman.

    Thanks for any help…

    January 28, 2011 at 9:16 PM #659425
    paramount
    Participant

    TG: I’d like to ask you a favor – what do you think I might be able to get for rent:

    Paloma del Sol
    1500 Sq ft. 3/2.5 2 car garage
    Good Condition (kitchen about 3 years old, carpet 2 years old)
    7000 sq ft yard

    I see lot’s of vacant houses in my immediate area – not all rentals but certainly noteworthy.

    I am about 1/2 mile or less from Sparkman.

    Thanks for any help…

    January 28, 2011 at 9:16 PM #660028
    paramount
    Participant

    TG: I’d like to ask you a favor – what do you think I might be able to get for rent:

    Paloma del Sol
    1500 Sq ft. 3/2.5 2 car garage
    Good Condition (kitchen about 3 years old, carpet 2 years old)
    7000 sq ft yard

    I see lot’s of vacant houses in my immediate area – not all rentals but certainly noteworthy.

    I am about 1/2 mile or less from Sparkman.

    Thanks for any help…

    January 28, 2011 at 9:16 PM #660166
    paramount
    Participant

    TG: I’d like to ask you a favor – what do you think I might be able to get for rent:

    Paloma del Sol
    1500 Sq ft. 3/2.5 2 car garage
    Good Condition (kitchen about 3 years old, carpet 2 years old)
    7000 sq ft yard

    I see lot’s of vacant houses in my immediate area – not all rentals but certainly noteworthy.

    I am about 1/2 mile or less from Sparkman.

    Thanks for any help…

    January 28, 2011 at 9:16 PM #660496
    paramount
    Participant

    TG: I’d like to ask you a favor – what do you think I might be able to get for rent:

    Paloma del Sol
    1500 Sq ft. 3/2.5 2 car garage
    Good Condition (kitchen about 3 years old, carpet 2 years old)
    7000 sq ft yard

    I see lot’s of vacant houses in my immediate area – not all rentals but certainly noteworthy.

    I am about 1/2 mile or less from Sparkman.

    Thanks for any help…

    January 29, 2011 at 2:34 PM #659597
    temeculaguy
    Participant

    paramount, I think 1600-1700 is about right. When i rented I tried to go 1500 and the best I could get was a condo or a really dumpy small sfr. But 1800-2200 is the range for larger places, after that. I do know someone who pays 1800 for something similar in paloma, but it’s really upgraded and their landlord is cool about their big dog. So that makes them O.K. paying a little more.

    January 29, 2011 at 2:34 PM #659660
    temeculaguy
    Participant

    paramount, I think 1600-1700 is about right. When i rented I tried to go 1500 and the best I could get was a condo or a really dumpy small sfr. But 1800-2200 is the range for larger places, after that. I do know someone who pays 1800 for something similar in paloma, but it’s really upgraded and their landlord is cool about their big dog. So that makes them O.K. paying a little more.

    January 29, 2011 at 2:34 PM #660263
    temeculaguy
    Participant

    paramount, I think 1600-1700 is about right. When i rented I tried to go 1500 and the best I could get was a condo or a really dumpy small sfr. But 1800-2200 is the range for larger places, after that. I do know someone who pays 1800 for something similar in paloma, but it’s really upgraded and their landlord is cool about their big dog. So that makes them O.K. paying a little more.

    January 29, 2011 at 2:34 PM #660402
    temeculaguy
    Participant

    paramount, I think 1600-1700 is about right. When i rented I tried to go 1500 and the best I could get was a condo or a really dumpy small sfr. But 1800-2200 is the range for larger places, after that. I do know someone who pays 1800 for something similar in paloma, but it’s really upgraded and their landlord is cool about their big dog. So that makes them O.K. paying a little more.

    January 29, 2011 at 2:34 PM #660731
    temeculaguy
    Participant

    paramount, I think 1600-1700 is about right. When i rented I tried to go 1500 and the best I could get was a condo or a really dumpy small sfr. But 1800-2200 is the range for larger places, after that. I do know someone who pays 1800 for something similar in paloma, but it’s really upgraded and their landlord is cool about their big dog. So that makes them O.K. paying a little more.

    January 29, 2011 at 9:53 PM #659702
    paramount
    Participant

    Thanks TG for that info. When you rented were all appliances included?

    January 29, 2011 at 9:53 PM #659765
    paramount
    Participant

    Thanks TG for that info. When you rented were all appliances included?

    January 29, 2011 at 9:53 PM #660368
    paramount
    Participant

    Thanks TG for that info. When you rented were all appliances included?

    January 29, 2011 at 9:53 PM #660507
    paramount
    Participant

    Thanks TG for that info. When you rented were all appliances included?

  • Author
    Posts
Viewing 15 posts - 31 through 45 (of 96 total)
1 2 3 4 5 6 7
  • You must be logged in to reply to this topic.