Rialto, CA · Member since 2018 · 6 posts · 3 votes
Hello,
I don't believe Ive heard this mentioned on the forums before, but what are your thoughts on buying a rental property on the same street or even next to 3 or 4 other rental properties. I imagine the competition could potentially reduce rent, on the other end however, I imagine the area must have high demand if many investors chose the area. What are your thoughts?
@Antonio Ramos this past year I bought a rental property on a street with a bunch of other rentals. The old timers on the street are unhappy about it - but they also understand that’s the direction things are heading in this area. But at the end of the day, it’s just another house on another block with (hopefully) good tenants in it. I don’t see why it’ll really matters.
@Antonio Ramos. I do OOS investing so if I can get them all on the same block or in a preferred area I’ll do that but overall I go where I can get a deal. I found a duplex for 33k but I’ll offer lower than that and rehab it. It just makes it easier when I go into town one stop shop
In our area the majority of the homes on the streets are rental property. The home owners are greatly outnumbered. It does not effect the demand. I typically rent my homes in a few days
Buying rental properties in areas where renters live sounds like a plan. You are not in competition with other landlords when your property is occupied. Also, when you upgrade your property and increase the rent, the other landlords will need to up their game in order to compete with you.