Is Riverside Ca A Good Place To Invest? (Residential)

Is Riverside Ca A Good Place To Invest? (Residential)

Member since 2017 · 18 posts · 0 votes

I'm a new investor that is trying to get started with residential properties and Riverside, CA is one of the cities I'm thinking about buying a property in. I visited Riverside a week ago and looked at the neighborhoods. I'm considering Riverside for the following reasons:

  1. I've read from different websites that job growth in the area is expected to outpace Silicon Valley 
  2. It is close to where I live (I live in OC)
  3. I have heard from a few people I know that there are people moving there due to the high cost of living in OC and LA 

However, I'm a little unsure if investing there would be the right choice because I do not know how likely it would be getting a good tenant fast and I have also read that evictions can be a giant headache in CA. I realize that there are other cities in the country that are better to invest in such as Orlando, FL and Charlotte, NC but unfortunately I am unable to invest in areas that far (not yet at least). I am also looking into Phoenix, AZ for investment properties too. I'm not looking for the best rental markets but markets that work favorably (but of course if I end up in one of the best markets that is a plus). Does anyone have much experience with renting and investing in that area? Also, what research can I do for myself to help me be a better investor? I try to research job growth and population growth for cities. I also look on sites such as Forbes and Business Insider about the best markets however, I would prefer to be more self sufficient than relying on blog posts from entrepreneur sites. I also listen to the Bigger Pockets podcasts when I can.

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Investor · Diamond Bar, CA · Member since 2012 · 79 posts · 24 votes
8y

I have a 3-plex in Riverside. I purchased it at the right time (2010) so the cash flow is good. I wanted to reply just to comment on your concern about getting tenants. My property is not in the best area of Riverside - it’s a  place that I would not send my family members at night time. Still I have never had trouble finding good tenants with decent credit scores and good income. Finding tenants will not be a problem in my experience. I believe the challenge will be finding a property that has an acceptable cap-rate. Thanks for your post - it makes me want to loo in Riverside for more properties too :-)  

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  • Investor · Diamond Bar, CA · Member since 2012 · 79 posts · 24 votes
    8y

    I have a 3-plex in Riverside. I purchased it at the right time (2010) so the cash flow is good. I wanted to reply just to comment on your concern about getting tenants. My property is not in the best area of Riverside - it’s a  place that I would not send my family members at night time. Still I have never had trouble finding good tenants with decent credit scores and good income. Finding tenants will not be a problem in my experience. I believe the challenge will be finding a property that has an acceptable cap-rate. Thanks for your post - it makes me want to loo in Riverside for more properties too :-)  

  • Financial Advisor · San Diego, CA · Member since 2015 · 51 posts · 37 votes
    8y

    I think Riverside is a great place to invest right now. There's so much investor activity in the LA and OC areas and it's forcing a lot of investors to expand their outreach in order to find good deals. I don't see investor activity slowing down in this area.

    Riverside is definitely becoming a better area too. There are a few areas you need to be careful of, but the rest of Riverside is pretty nice and it benefits from being so close to OC and LA.

  • Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
    8y

    @Nathan Walden Last time I checked Riverside was top 5 or 6 nationally for total profits cash flow + equity since 2000. It also has a future growth forecasts that was very high compared. So to answer your question IMO it is a very good place to invest in residential and or way above average. Other than that IDK the area and good luck with your search. 

  • Investor · Los Angeles, CA · Member since 2012 · 1k+ posts · 500 votes
    8y

    I've done a rehab or two over there. Worked out well. Basically all of LA county and most of IE are good places to invest if you find the right deal. 

  • Jo-Ann LapinPro Member
    Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
    8y

    I am going to chime in too. As real estate becomes more expensive riverside offers a community that is diversified for job growth and affordable housing for so cal.

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