Chino, CA · Member since 2018 · 11 posts · 7 votes
Looking into investing in Lake Elsinore or Moreno Valley in CA. When doing some research, I see that Lake Elsinore has high Mello Roos but appears to have some up and coming neighborhoods. Moreno Valley has some nicer areas I‘d plan to stick too. I‘m from Los Angeles and looking for some insight to investing in the Inland Empire.
Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
7y
@Angela Hill I personally would try to avoid high special assessments on property taxes, they will eat profit for breakfast. Moreno Valley is also closer to the job centers of Riverside, and San Bernardino than Elsinore is. Be aware there are areas of Moreno Valley that have the high special assessments as well
Lake Elsinore, CA · Member since 2018 · 235 posts · 300 votes
7y
You have to be careful in Lake Elsinore. Contrary to popular assumption, the area by the lake is NOT desirable (just Google Lake Elsinore, there are always water issues). The nicer areas are typically referred to as Canyon Hills and are mainly new builder communities and part of an HOA. So be aware of those fees.
I personally do not invest here because I don't see real cashflow opportunities. Even the undesirable areas are pretty high and you may be buying next to poor neighbors. I would definitely look at whatever you intend to buy and get a good understanding of the taxes and how those will affect your bottom line.