Finding a rental that would become a home one day

[Windu C.]

Hello, we're in the Bay Area (which is too expensive for us to buy a home). We'd like to buy in Southern California to be near family one day. We have family in Yorba Linda and South Pasadena. South Pasadena is very expensive so Yorba Linda/Placentia makes more sense. My questions are: 1) What is the rental market (pricing)like for single family homes (3 bedrooms/2 baths) in the Yorba Linda/Placentia Area? 2) Is it hard to find tenants? 3) Are there good property managers you'd recommend? Thank you! 

[Joe Homs]

@Windu C. this is an easy ask.  Rents are determined by condition and location.  Those in good condition are easily rented.  I have a local property manager for you that all my clients use.

Good investments...

[Josh Alexander]

Life long Yorba Linda resident, because of the school system and safety Yorba Linda homes tend to rent out quickly. Like the previous post said pricing will depend on condition and many Yorba Linda renters expect at least a moderately updated home. 3 bed 2 bath start in the $3,000 and will go up from there depending on location and amenities. Just rented a fully updated pool home 2 bed 1.5 bath for $4,500 this last week so the pricing can definitely fluctuate. You need to expect to put 50%+ down to break even on most properties around here though as the average 3 bed 2 bath is going for 1.2-1.3 million right now. You can find deals in the high $900,000s that need some work so if you’re up for some sweat equity that could also be an option. Hope this helps get you started! 

[Adrian Pinson]

Quote from @Windu C.:

Hello, we're in the Bay Area (which is too expensive for us to buy a home). We'd like to buy in Southern California to be near family one day. We have family in Yorba Linda and South Pasadena. South Pasadena is very expensive so Yorba Linda/Placentia makes more sense. My questions are: 1) What is the rental market (pricing)like for single family homes (3 bedrooms/2 baths) in the Yorba Linda/Placentia Area? 2) Is it hard to find tenants? 3) Are there good property managers you'd recommend? Thank you! 

Do you have a loan already in place? If so, what is your budget because that affects what neighborhood or city can afford which affects the type of tenants you would ultimately appeal to.

[Brandon Carlson]

Quote from @Windu C.:

Hello, we're in the Bay Area (which is too expensive for us to buy a home). We'd like to buy in Southern California to be near family one day. We have family in Yorba Linda and South Pasadena. South Pasadena is very expensive so Yorba Linda/Placentia makes more sense. My questions are: 1) What is the rental market (pricing)like for single family homes (3 bedrooms/2 baths) in the Yorba Linda/Placentia Area? 2) Is it hard to find tenants? 3) Are there good property managers you'd recommend? Thank you! 

If you would like rental comps for both Yorba Linda and South Pasadena, I would be happy to provide them to you.