Inland Empire real estate market?

Question

Hello, I am new to the inland empire area and looking to invest in the area, does anyone have any advice on what to look/watch out for in the area? I’m close to Temecula and Murrieta but should I branch out further in my search?

Reba Marabotto · Answer

@Devon Preyer Yes! @Nick Weaver runs one called Club 500. He is a member here in BP. The club meets in Temecula.

Devon Preyer · Answer

@Reba Marabotto thank you for the information! We definitely aren’t millionaires yet, fingers crossed, but we really like the area so hopefully we can buy another relatively soon. We got pretty lucky to get our first one so hopefully our luck hasn’t run out yet. Do you know of any investor clubs in the area?

Reba Marabotto · Answer

@Devon Preyer Good for you and your fiancé! I’m a local agent, and I’ve worked with investors here since 2008. We are always in need of good rentals here. With so much military here; such great schools; and prices much more affordable than San Diego, we’ve had great success putting well-qualified families in the homes.

Prices are definitely up right now on purchases. With rates still low, buyers are willing to pay seller pricing and scooping up properties. Not many properties priced for investors right now. Not unless you want to spend over $1M to get a home out in wine country that can be a short term rental. Of course that’s a whole other game. But can be very lucrative if managed right.

Good luck to you in your journey. Feel free to reach out if I can answer any more questions.

Nathan Mellor · Answer

@Devon Preyer I bought my first triplex in San Jacinto. You can look in Hemet, San Jacinto areas and cash flow if you find a decent deal. Everything is very expensive right now so you might need to get lucky.

Devon Preyer · Answer

@Nick Robinson thank you! We decided to buy in menifee since it seems like it’s an up and coming area with all the construction and new city center being built. My fiancé is still a bit timid so we decided to take the “safer” route to get our feet wet, now we are ready to jump in!

Nick Robinson · Answer

@Devon Preyer

Congrats on your first house! What city did you guys buy in? What made you go with a SFR over starting with a four-plex if you want to get into multi family? I invest in multi family and it does seem like it takes forever to build up your portfolio but just keep chipping away at it. I know I’m still building in 5 years went from nothing to a duplex sold it as a1031 into an 8-unit in phx and have a four unit in Huntsville.

Devon Preyer · Answer

@Nick Robinson my goal is to eventually get into multifamily. For now my fiancé and I were lucky enough to recently buy our first home that we are living in and slowly renovating to eventually rent.

Nick Robinson · Answer

@Devon Preyer

What’s your strategy? You buying SFR or multifamily?

Darian Sanayei · Answer

It depends on your investing goals and strategy. This area is pretty good, but if you want to cash-flow you may need to get a bit creative with your strategy.

Inland Empire real estate market?

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