Why so many homes are in market in Casa de Oaks in Thousand Oaks?

Asked by Edward Kim, Simi Valley, CA Mon Sep 29, 2008

And I want to buy as an investment and how much is usual retal for 2bd and 2 bath in Thousand Oaks?
Also any other good areas in Thousand Oaks for investment?
Thanks a lot.

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Anne Porter, , 91362
Tue Nov 11, 2008
As a homeowner in Casa De Oaks, I have lived here for over 12 years. Casa De Oaks is an owner ocuppied only complex. In order to rent your unit in our complex, a person must go through the City of T.O. and show personal financial hardship. Renters are discouraged, as well as large investors. The reason is that our complex was originally set up as housing for us as homeowners, not for investment purposes. We, as homeowners, like to have voting rights over our HOA, our homes and what happens here. Without the proper approval from the City, if your renters are a problem, our HOA will shut you down by reporting your unit to the city. We don't like noisy or messy people. I've seen this happen. Due to the economy, our HOA is currently turning a blind eye to renters, as long as the monthy HOA dues are paid, but I've recently seen a couple who left. They had porch parties every night. We also had a unit in the past which we called the frat house. They left, too. If you feel confident that you will be renting to responsible people, then go for it. The first warning is a warning only, then comes the fines. We are pretty laid back here, but I would suggest you talk to people who actually live here or our management company, Integrity Management Group, for the purpose of obtaining information regarding renting a unit or units. Good luck.
1 vote
The HOA will not act when there is a problem caused by one person if only one homeowner has complained. Renters can't complain at all. They must ask the owner of their unit to write a letter to the HOA board and follow up on it. That never happens. As a result, occupancy is very short if a person rents. Homeowners move as soon as they possibly can. Since this complex was opened to renters, investors have created a horrible situation here. Imagine having a wet ceiling and an HOA board who refuses to help or to tell you who owns the unit above you, so the plumbing and the ceiling can't be fixed. That is what happens here. We are frequently visited by police. Young adults party and loiter in the parking lot and block the walk ways to residences. The HOA board refuses to act or just doesn't care. Property value is almost as high as it was at the height of the housing buble, making this a good time for a short sale, but not long term investment..
Flag Thu Feb 5, 2015
I would like to update my comments. After dealing with the HOA and problem investors who rent to anyone, I want to move as soon as possible. I hate this complex.
Flag Wed Nov 5, 2014
Edward Kim, Home Buyer, Simi Valley, CA
Tue Sep 30, 2008
Hi,
thank you so much for your kind answer Barry.
I am the stage that I want to invest in rental properties maximum of $300K.
Do you think it's a good time or should I wait and watch for a while where market's going.
BTW what are the guidelines at rental properties in Casa de Oaks?
Thanks.
0 votes
Barry Shapiro, Agent, Camarillo, CA
Mon Sep 29, 2008
Edward,

Edward,

As a seasoned investor, you know you make your money when you BUY, not when you sell. The Casa de Oaks has guidelines for use as a rental property. Otherwise, if you can make the numbers work there will be several future opportunities to expand your real estate portfolio. I would suggest you hold tight for awhile longer and come into the market at an even lower basis. Rents run in the $1500-2,000 max range for 2+2s in the TO area. I have attached a link to 11 active rentals and 22 "leased" properties to give you an idea of the rental potential. I also have a listing in Agoura Hills available for under $250K ~ http://www.agourahillscondo.com Good luck and please be patient with the market, as I will pay off leveraged dividends in the end.
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Thousand Oaks Zip Codes

Email me when…

Learn more