Investor · Orange County, CA · Member since 2019 · 11 posts · 1 vote
Im a newbie looking to get into the rental property game. Im trying to find low cost areas in SoCal. So far ive been able to come up with areas such as Moreno Valley, Palmdale, Lancaster, and areas like those. Places where houses are cheap. Anyone know any other areas and what do you think of the areas ive mentioned. let me know.
San Bernardino Mountains, the cheaper areas like Crestline, Valley of Enchantment, Cedar Pines Park, Rim Forest, Twin Peaks. You can have regular rentals or vacation rentals for weekends or a week at a time. Housing is cheap in those areas, but NOT in Lake Arrowhead, etc.
San Bernardino Mountains, the cheaper areas like Crestline, Valley of Enchantment, Cedar Pines Park, Rim Forest, Twin Peaks. You can have regular rentals or vacation rentals for weekends or a week at a time. Housing is cheap in those areas, but NOT in Lake Arrowhead, etc.
@Aasim T Bickiya there are not a lot of cheap areas in Southern California, however, there are still opportunities to buy property that will appreciate.
My recommendation is to look in South Los Angeles or as @Brian Ploszay mentioned the fringe of the Los Angeles metro area.
Also, the best values right now are to buy a multi-unit property as the appreciation, debt pay down and returns are typically better.
I'd just reiterate what @Michael T. said. Small multis are a good first step due to his listed reasons. Look into the NACA program since they aid in those purchases and can get you into this expensive market.
I'm a fan of South LA. Purchased my fourplex in the Westmont neighborhood. There's no rent control there and after 2 years its appreciated a good amount. I recommend the NACA program as well. Its a godsend!