Rates for renting an inherited home in Laguna Niguel

[Pete Towsen]

I inherited a home Laguna Niguel that I want to move into in the future when I have a family, but for now I am planning to use it as a long term rental. The house is pretty big (5 bd, 3 br, 3000 sq ft) and probably worth around $2M or so, but I'm worried it would be too expensive for renters as I'm seeing comps be around $7500 - $8000/mo. Does that sound right for market rate?

Does anyone have experience renting out higher priced SFHs in Orange County? Are there actually potential tenants out there that would pay that much in rent? First time ever being in a situation to rent anything out so just trying to learn!

[Pete Towsen]

Quote from @Joe Homs:

@Pete Towsen the quick answer is yes, no problem.  Your bigger issue is that the property taxes will be increased unless you move on.

Good Investing...

Yeah, it's unfortunate but we physically can't move for a few years for personal reasons, so this is our best bet if we want to keep the house. We're okay cash wise to pay the higher tax rates and take a hit on profit for a few years.