I'm interested in buying a rental property in Riverside CA or San Bernandino CA. I have a good down payment to put towards and I was thinking if for some reason I can't get it rented out, I could always live in it myself. I live rent free right now. I'm looking at 2 and 3 bed condos at the moment. Does this seem like a good idea?
You should listen to http://www.biggerpockets.com/renewsblog/2013/02/21/working-job-investing-real-estate-arthur-garcia/ he does buy and hold in the Inland Empire. I know its a few years old so maybe the market has changed. Best of luck
@stevewarfield, I wouldn't buy a condo. You are just buying a apartment. Buy a 3/2 house.
@Steve Warfield Don't buy a condo, It is just like buying an apartment. Buy a 3/2 house instead. undefined
How easily would I be able to rent out a 3/2 house right now in the Inland Empire?
Hello @Steve Warfield.
I'm a realtor and property manager in the Inland Empire. Renting out a single family house with 3 bedrooms / 2 bathrooms is a breeze. When I post a house for rent for one of my clients I can get up to 5 applications on the first day. So, getting renters is not an issue. Your main concern should be finding a renter who will pay rent on time and take care of the house.
Also, buying a condo isn't automatically a bad thing. If the numbers work out with the understanding that you might attract a lower quality tenant, then buying a condo shouldn't be overlooked.
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