Hi there, I was interested in speaking to someone in the Newbury Park / Thousand Oaks area about the current real estate market out there. Are there any active REI there that I could connect with?
Hi, I live in Thousand Oaks but I'm a pretty new REI. What do you need help with?
From the last time I was there, I felt that the houses and condos were much more expensive than what the rents were going for. Is that still true? Is there anywhere in that area that still might have potential for buy and holds?
Thanks! Camarillo, Oxnard, Channel Islands?
I'm not a buy and hold guy, but it seems to be the general consensus that good cash flow is difficult to obtain in much of Southern California. There are some areas in Oxnard and Ventura that are at a lower price point, so you may be able to find something there. I would also check out Fillmore and Santa Paula.
If cash flow is your goal, nope, sorry, won't find anything around here! I'm in Venice and definitely Newbury Park and those are very expensive and rents definitely won't allow for cash flow.
@Henry L. My brother lives in NP. Nice area and home prices have doubled twice since the 90s. Most of Conejo Valley is top tier and Ventura County has slow growth policies. This means there is a perpetual housing shortage long run. I almost bought a condo in Westlake Village. That would have been a .7%. Other more inland/lessor areas will have a better chance for initial cash flow.
This gentleman below is in Cali and just posted a few minutes ago. Those inland areas of Cali have a much easier time getting better initial cash flow numbers. The supply and demand is more equal compared to the most mature locations. You could say parts of our mountains, deserts and the San Joaquin Valley is our midwest version sort of speak:) Good luck with your search!
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