I was considering investing in real estate (wholesaling or BRRRR) if possible in the Temecula / Murrieta area. Living in Corona I do have some experience there.
Does anyone have any experience investing in this area? If so, what do you think the direction of it is?
I’d keep an eye on new construction dropping but I sold my home a year ago, in Temecula, and it has been stagnant since then. There is a deal in any market but it’s not a place I’d make that my focus.
Temecula Valley is a hard area because these are almost all owner-occupied or tenants with pride of ownership mentalities, not a lot of fixers. I have one client who flips this area and it's a slow process. I would think Hemet, Menifee and such had more opportunity for true flipping. This area is driven by retail buyers, who are not likely to deal with the wholesalers, either.
I think a buy and hold is the most likely to succeed from what my clients tell me.
I do still have some buy and hold investors here in Temecula. But available properties are definitely fewer these days. My clients are getting about 5% or skipping deals. Right now, more skipping deals.