Home Buying in Riverside>Question Details

samrendratul…, Home Buyer in Riverside, CA

I want to buy a home in riverside for investment purpose. My budget is 200,000.

Asked by samrendratulika, Riverside, CA Tue Apr 30, 2013

I want to buy a home in riverside for investment purpose. My budget is 200,000. I want very good school district & safe area. Please advice me where should i consider?

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samrendratulika:

You're getting some good answers from agents. Riverside's market in the price range you mention is very "hot" right now for properties both as residences for buyers and investors.

There are several avenues you might consider in your search: properties close to the several college campuses in Riverside make great rentals for students and are sought after, and properties in family neighborhoods make wonderful rentals if you prefer that type of investment property. I have sold both through the years depending on the philosophy of the investor.

What works best for me is to sit down with you and map out a "game plan" for the type of property you prefer, get the financing arranged and preapproved so we're ready to move on a home when it becomes available, and set you up on an automatic search that immediately emails both of us as properties become available so we can act on them quickly.

Feel free to let me know when would be a good time to sit down together and begin your search.

Eddy Longshore
McIntosh Real Estate
Riverside, CA
(951) 515-4125
"Serving You With Honesty and Integrity"
0 votes Thank Flag Link Tue Apr 30, 2013
$200k in Riverside isn't going to buy a home in a good area (as you indicate you want) and a home at that price won't attract good renters. For $200k, or less, I'd recommend buying a condo. Two or three bedrooms in an association that has reasonable dues so the dues don't eat up your rent. If you can turn a 6 - 8% return on your money that is a good investment. We have some properties in inventory that you might be interested in. If you're interested, give me a call or send me an email.

Vern
951.315.0000
Jones & Co Realty
0 votes Thank Flag Link Tue Apr 30, 2013
In addition to 92504 & 92506 you should also consider Indian Hills (92509). There have been some recent sales under 200K in Orangecrest (92508) Canyon Crest (92507); areas which tend to command higher rental and resale values. Each neighborhood has its own appeal and all are from different build periods; 92504/92506 (1950’s) / 92509 (1980’s) / 92507/92508 (1990’s).
All these neighborhoods offer 3/4 bedroom homes that are in demand will rent quickly and should appreciate nicely if and when you decide to sell.
0 votes Thank Flag Link Tue Apr 30, 2013
Are you pre-approved with a lender? That should be the first step, next interview 3-4 buyers agents and start a relationship with a Realtor today. Maybe start by contacting a couple of local agents that take the time to respond to your question.

Best of luck.

Spirit
0 votes Thank Flag Link Tue Apr 30, 2013
Hello, in that price range I would recommend certain areas of 92506 and 92504 zip codes near magnolia center / poly high school area.

Please advise if you would like some hand selected properties to choose from.

Sincerely,
Jory Blake
Jory@JoryBlake.com
951.742.3751
Web Reference: http://www.JoryBlake.com
0 votes Thank Flag Link Tue Apr 30, 2013
What about 92508?
Flag Tue Apr 30, 2013
I heard that cole canyon is a very good elementry school. I want something that side . Detached condo or single family would be good for me.
Thanks.
Flag Tue Apr 30, 2013
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