General Area in Menifee>Question Details

Debbie, Home Buyer in Menifee, CA

We are looking to cash buy a rental property in Menifee as that is where we live. We are seriously considering investing in a 55 community. Is there?

Asked by Debbie, Menifee, CA Fri Aug 16, 2013

a rental demand in such a community. We would hate to buy a home as a rental property and then find there is no market for rentals in a retirement community. Can you advise?

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Answers

6
Hi Debbie,

Right now is a great time to invest. I have sold several homes in the 55+ area of Sun City. They rent very quickly! If you would like me to send you a list of available homes please email me or call me.
email me at: susana.franco27@gmail.com\ Cell 951.591.2458

Thank you,

Susana Franco
Prudential California Realty
Bre Lic# 01852097
http://www.your951agent.com
1 vote Thank Flag Link Mon Aug 19, 2013
There is a demand for senior rentals and we know investors that have been successful in this area. Of cvourse, the higher the lease rate, the lower the demand.

You have 3 main senior areas in Menifee: 1) Ryland Oasis: Ryland Oasis is like a resort for seniors. Great clubhouse, swimming pool, newer homes, and residents can drive their golf carts to the golf course. Home prices are more expensive so rental rates would be the highest in this community.

2) Palm Villa is located just off Antelope Rd and some of these patio homes have golf course views. These are located close to shopping and prices are not out of control so rents dont need to be stretched too high.

3) The Core of Sun City has seen an influx of investors as of the last year or 2. With home prices the most affordable of these senior communities, and rentals constantly being sought out. The Core has become a popular spot to invest. With low taxes and low HOA, the returns are favorable.

We have more info on these communities but just wanted to give you a quick idea. If you have any questions, please dont hesitate to give us a call.

Dan and Jessica Evans
Menifee Realty
951-764-4866
1 vote Thank Flag Link Fri Aug 16, 2013
We have several investor clients who have purchased in 55+ communities and are very happy with the investment -
0 votes Thank Flag Link Sun Aug 18, 2013
You've already received some great advice. I just have one thing to add. Please consider that, when only renting to those in senior communities, your limiting your renter pool considerably. Quite considerably. Just food for thought. Good luck!
0 votes Thank Flag Link Sat Aug 17, 2013
For the active 55+ there are multiple choices. And...within those communities there are many community members that are renting. Renting is a great fit for those on a limited, but steady, income. We have assisted many people...both looking to buy and those interested in selling in the senior communities in Menifee.

If you would like to provide us with more detail on what you are looking for, we would be happy to provide you with options within each community. Linda
0 votes Thank Flag Link Sat Aug 17, 2013
Hi Debbie,
I just sold a 2 bedroom condo in Sun City last week and had it rented the following day...So to answer your question, yes there is a demand. Please feel free to contact me regarding the details as there are many to go over.

760-518-7541
0 votes Thank Flag Link Fri Aug 16, 2013
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