Investor · Palm Springs, CA · Member since 2016 · 3 posts · 1 vote
Hello everyone,
I was wondering what’s your thoughts about all the building going on in Dhs( cannibas cultivation facilities) ? Will this boost the rental makers for the area?There was a the city was highlighted on CNBC The Profit. The numbers are amazing in regards to tax dollars. It was stated that at this point it cost $15mil to run the city and is expected to receive $50mil just from cannibas.
I want to look into buying a multi family with hopes to AirBNB a unit or two.
We have 4 SFR rentals in DHS and we are absolutely thrilled with the new Cannabis businesses. A positive influx of tax dollars for DHS is very needed things. We have been investing in DHS for about 6 years and we see the views and the great open spaces and we wonder why it's not the next Palm Springs. Some areas of DHS have even better views than the Palm Springs area. Plus, Joshua Tree National Park is just over the hill and it's spectacular. Property values in Desert Hot Springs have been going up steadily and we are looking forward to even better things.
We have 4 SFR rentals in DHS and we are absolutely thrilled with the new Cannabis businesses. A positive influx of tax dollars for DHS is very needed things. We have been investing in DHS for about 6 years and we see the views and the great open spaces and we wonder why it's not the next Palm Springs. Some areas of DHS have even better views than the Palm Springs area. Plus, Joshua Tree National Park is just over the hill and it's spectacular. Property values in Desert Hot Springs have been going up steadily and we are looking forward to even better things.
Chris Latham. Great to see your output on DHS. I own two duplexes! One of the duplexes I bought 18 months ago for 68k and I’m selling it for 140, will 10-31 into a 5plex In DHS! I’ve seen the growth and I am also excited about the growth the city is experiencing. Let’s connect! I’ve also helped clients in the OC area buy in DHS though i mostly sell in OC and LA!
My girlfriend was born and raised in DHS and im out there monthly. I have known for some time about the cannabis boom out there and have recently seen the construction going on for the large grow sites. I would imagine this is going to be overall good for DHS. It will help bring in tax dollars and also more people. DHS is right in between Joshua tree and Palm Springs and with the marijuana industry coming in that could bring more people into DHS, not to mention they have natural hot springs. DHS could be great for short term rentals (Air BNB) due to the fact that Joshue Tree can be pricey and also sells out quick.
I have also noticed that last time i was in Palm Springs around New Years that there was a lot of construction going on and remodeling. It appears they are doing renovations to the hotels/casinos in the area.
I know that DHS has its fair share of crime though so have to be careful with where you choose your property. Overall, I think DHS and Palm Springs are good areas to check out and i am currently looking at them myself.
Chris Latham. Great to see your output on DHS. I own two duplexes! One of the duplexes I bought 18 months ago for 68k and I’m selling it for 140, will 10-31 into a 5plex In DHS! I’ve seen the growth and I am also excited about the growth the city is experiencing. Let’s connect! I’ve also helped clients in the OC area buy in DHS though i mostly sell in OC and LA!
Hey @Julio Arana I am starting to look out this way. Do you see rents increasing for this area? What specific parts of town are you looking at currently? Thanks for the time.
Hi Walter, to answer your question yes..I would like to find a multi family in DHS. All of the surrounding areas are tightening their rules and/or trying to eliminate airbnbs. DHS doesnt have those restrictions and rents are increasing..
I just listed my 2/1 one bath duplex. Let me know if any of you are interested. The address is 12201 Cactus Dr Desert Hot Springs CA 92240! Listed at 210! New outside paint and on of the units was upgraded in 2016 and the other in 2015 CAROL DAVIS
So anyone have any thoughts on how stable the rents in DHS are when the next home value correction comes? I don't mind waiting that out since I'm interested in buy-hold investing, but I'd be in a lot of trouble if the rents dropped too much.
Looking to buy an STR in DHS and yeah the values are crazy on what people are asking for. I see people asking 900k for places around them that are only 500k or less. Not sure how what works. I see a correction coming but do you think DHS is a good place to buy a few STR there?