Home Buying in Manteca>Question Details

Danny, Home Buyer in Manteca, CA

I am interested in buying investment property in Manteca or Tracy.

Asked by Danny, Manteca, CA Wed Aug 4, 2010

I am interested in buying investment property in Manteca or Tracy ... but not sure if I can find the tenants.
How much can I get for 4 bedroom, 2 baths in newer house?

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6
Danny,

Now is a wonderful time to buy an investment home with affordable home prices and low interest rates. I work with investors to help them with their real estate needs. Rental prices have increased with the demand for rentals in our market. Rents vary depending on the area and age of the home. Rents in Tracy are slightly higher than in Manteca.

I specialize in home sales in the Manteca and Tracy areas. I can set you up to receive all of the new listings in the Tracy and Manteca each day. I can provide assistance in finding a tenant for your investment property. You can go to http://www.CentralValleyHomes.com for local real estate information. Let me know how I can assist you.

Thanks,
Carol Perdew
Prudential California Realty
(209) 239-7979
Carol@PerdewHomes.com
http://www.CentralValleyHomes.com
DRE 985176
0 votes Thank Flag Link Mon Nov 14, 2011
Hi Danny,

The best place to check is the local newspaper or rental management agency. When I was a landlord, I relied on these resources. Also, you may want to track the newspaper adds to see how long it's taking to rent. You may also want to confirm there rented with a phone call.

Let us know if you have any other questions.

Best regards,

Rocky G.H. Hawrysz
Prudential California Realty
P:(209) 444-6610
F:(209) 433-2000
rocky@prucalifornia.com
http://www.TeamHawrysz.com
Lic: 01468373
0 votes Thank Flag Link Wed Aug 18, 2010
If you put 20% down and buy a home at $150,000, your loan will be $120,000. Payments will be approx. $850 including taxes and insurance at todays interest rates. A home in Manteca that is a 3 bedroom/2bath, built in the 60's, 70's or 80's that costs $150,000 can rent for $1200-$1400. That gives you $350 to $550 a month, less any other expenses, as positive cash flow. You will get any future appreciation and some tax breaks. What a great deal! Now is the time for anyone that is thinking about investing to get to it. There should be some higher prices coming, so the numbers may not be as good as they are now with the low rates. I have a great system I use that does the searching for you and allows us to view the homes 24-48 hours after the new listing. Call me and I'll set you up.

Brad Young
PMZ Real Estate
209 814-2470
0 votes Thank Flag Link Sat Aug 7, 2010
I currently have a client that is selling his home in Manteca. He has been renting it for the past 3 years without fail. We are about to put it on the market. It is a newer 3/2 and he rents it for $1,300 per month. If you purchased the home for $190,000 and put 20% down you would be looking at a P&I of around $950. This would leave money for repairs, insurance, property taxes etc. Of course there would be a fee for a management company if you choose to use one.

The market is soft in both areas and there are deals to be had. I would wait for the summer to end which may allow prices to drop a bit. Personally I would stick to Manteca as opposed to Tracy. I would be glad to discuss my reasons with you via phone or email. Find a REALTOR that will work hard for you before the purchase.

Best Regards

Eric Soderlund
925-337-1897
Web Reference: http://www.esoderlund.com
0 votes Thank Flag Link Fri Aug 6, 2010
Our Manteca market can get you, depending on square footage about 1400-1800. Tracy should get you about 150-200 more per month. You can read my blog post about this linked below. Feel free to contact me for more information and help.
0 votes Thank Flag Link Thu Aug 5, 2010
The bigger question is: Do you have the 20% down required? (25% for the better rates).
You will need 6 months reserves for Principal, Interest, tax and insurance in reserves to qualify.

Unless you have the reserves and down payment to do this and have some landlord experience, I'd say you should rethink the idea.
0 votes Thank Flag Link Wed Aug 4, 2010
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