Home Buying in Lancaster>Question Details

Redd1, Home Buyer in Los Angeles, CA

Buying properties to rent out. Best value (rent and rate of occupancy versus cost of home) : Tehachapi, Bakersfield or the Antelope Valley?

Asked by Redd1, Los Angeles, CA Fri Oct 1, 2010

Am also researching the Long Beach and San Diego areas. Want to but two or three properties and rent them out to start building a R.E. portfolio.

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Answers

7
Hello,

AV is good, and anything closer to or in theSF Valley is good too.

One other suggestion, is that it is probably a good idea to buy multiple properties at this time since rates and prices are way down, rather than multi-units. This way if you ever need to free up some cash you can always sell one off and still have some investments to rent. Best of luck your on the right track.

Born and raised in AV,
Tracy Van De Mark
(661) 310-4004
Keller Williams Realty
DRE#01487734
(SRAR & GAVAR MLS)
Web Reference: http://www.tvandemark.com
0 votes Thank Flag Link Sat Oct 2, 2010
Hello Redd1,

That's a great question. The Antelope Valley rental marketplace is increasing tremendously. With the increase in REO and distressed properties, more homes are being bought by investors and rent out quickly. There truly isn't enough supply for the demand. Housing is still very affordable and interest rates are historically low. If ever there was a time to invest in real estate it's now! Your dollars will reep a greater return closer to the new development, hospitals and retailers which are attracting more residents in from surrounding cities throughout los angeles county. Location is key when choosing where to invest. It may be good advise for you research the neighborhoods and rentals in order to make an educated decision before you preview homes.

I'm a member of the Greater Antelope Valley Association of Realtors and the Southern Regional Association of Realtors which gives my clients the advantage of purchasing anywhere in southern california. Please let me know if I can be of service to you. Best wishes!

Katrina Roth, Realtor
Keller Williams VIP Properties
25124 Springfield Court, Suite 100
Valencia, CA 91355
661-208-1855 Direct
661-291-1463 Fax
KatrinaRoth@kw.com
DRE#01862396
0 votes Thank Flag Link Fri Oct 1, 2010
Unless you are buying them with cash, please make sure you have your financing lined up. You also need to know that Fannie Mae has re-instituted the ability to finance up to 10 properties however most lenders can not lend if you have more than four financed properties. My company does have the ability to do financing for more than more, up to 10 financed properties. Good luck
0 votes Thank Flag Link Fri Oct 1, 2010
I also think the Antelope Valley is a great choice now and some areas of San Fernando Valley but if you are buying cash you have better areas to choose from, it is a great time to put your money in Real Estate.
0 votes Thank Flag Link Fri Oct 1, 2010
Hello Redd1,

Antelope Valley is an excellent investment area right now - home prices are still down, and the rental market is strong. With a large foreclosure market - the homeowners aren't moving out of the Antelope Valley, they are becoming the new rental market.

If you'd like a list of properties currently available, please contact me or check out my website. I wish you the best of luck.

Tamara Stoebe, REALTOR, GRI, QSC, e-PRO, Notary
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Cell: (661) 466-6849
Fax: (661) 422-3006
E-mail: Tamara@TamaraStoebe.com
Facebook: http://bit.ly/a6asg2
Web Reference: http://www.TamaraStoebe.com
0 votes Thank Flag Link Fri Oct 1, 2010
Antelope Valley. Also some areas in the rental corridor of San Fernando Valley to include Sylmar, San Fernando and North Hills and as long as the purchase price is below $225,000.

Bob Khalsa
UA Property Management
0 votes Thank Flag Link Fri Oct 1, 2010
Thank you for your question about getting the best value for residential income properties. I suggest the Long Beach Downtown area because of the high number of foreclosure you can get good deals and it is an area that is growing economically. A good local real estate agent should be able to provide you a few sample listing and/or you could check Bank of America, Chase, and Fannie Mae's websites to see their REO's.
0 votes Thank Flag Link Fri Oct 1, 2010
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