La Quinta, CA · Member since 2016 · 7 posts · 1 vote
My name is Jorge Navarro and I am a full time Firefighter Paramedic. I own a home in La Quinta Ca. I am looking to buy a second property, possibly more hopefully. I am a Newbie, and would like to seek out information from the BP community. Im looking to get some advice pertaining to purchasing/ renting properties in the Coachella valley, Palm Desert, Indio, La Quinta, Coachella, Palm Springs areas. Any advice would be very much appreciated!!
Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
9y
Welcome to BP. The second home will it be a rental. I have found that the cove makes wonderful long term rentals. Thank you for your service and putting your life on the line everyday for us all
Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
9y
Welcome to BP. The second home will it be a rental. I have found that the cove makes wonderful long term rentals. Thank you for your service and putting your life on the line everyday for us all
La Quinta, CA · Member since 2016 · 7 posts · 1 vote
9y
Hi Jo-Ann Lapin. Yes, my goal is to have a few rentals. I used to live in the LQ Cove about 10 years ago.I now live in North LQ. The La Quinta Cove is one of the places I am looking to purchase a rental property. Do you have any properties in the area? My biggest concern is if I am able to cash flow with the higher market cost.
Palm Springs, CA · Member since 2015 · 57 posts · 6 votes
9y
Welcome Jorge Navarro
You have joined a great community with unlimited information about REI.
I've been looking for a property at the lq cove myself for the last 6 months to be able to pick up a rental. However, after analyzing numerous deals I have not been able to find any deals that cash flow positive.
So I'm looking for a property that I could turn into a vacation rental.
Do you have a particular type of property that you're looking for? Sfr? Multi units?
La Quinta, CA · Member since 2016 · 7 posts · 1 vote
9y
@Albert Melo Nice to meet you Albert. What kind of numbers are you looking to get on your cash flows? Are you looking on your own? Seems to be more difficult, because prices are higher. However there is always light at the end of the tunnel ha!. Im looking into Sfr and multi. I really haven't thought about vacation rentals however we do have big festivals people flock to.
Palm Springs, CA · Member since 2015 · 57 posts · 6 votes
9y
Jorge Navarro
It's nice to meet you as well.
I'm looking for properties that at least meet the 1%rule, and what do you mean by am I looking on my own? As If I have an agent?
La Quinta, CA · Member since 2016 · 7 posts · 1 vote
9y
@Albert Melo I too am looking at properties that meet the 1 percent rule. Seems harder to find in Sfr. Have you had any success finding any? I think Tri plex's meet the 1 rule a bit easier. Do you have an agent or look on your own? So far I am looking on my own.
Palm Springs, CA · Member since 2015 · 57 posts · 6 votes
9y
Hey Jorge Navarro yea I'm looking on my own, I have access to the MLS every morning checking for properties. I'm going to start a marketing campaign to find better deals. Let me know if you ever want to meet up to grab some coffee and just chat about REI.
Real Estate Agent · Camarillo, CA · Member since 2016 · 40 posts · 36 votes
9y
Welcome to BP Jorge. Tons of great information on the forums! Check out their book page there's plenty of books out there to help educate you in real estate investing!
La Quinta, CA · Member since 2016 · 7 posts · 1 vote
9y
@albert
@Albert Melo Im interested in how your creating a marketing campaign. Ive mainly been running numbers with properties to see if they are even worth looking at. A meet up sounds good. There is always more knowledge to be gained from others.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
9y
You are going to have a much easier job cash-flowing a vacation rental in the La Quinta area, as compared to a traditional long-term rental. I have recently purchased short term rentals in La Quinta, Indio, and Palm Desert -- feel free to reach out if you want to chat.