Hey everyone! About to buy a property in Oroville Ca as a rental. Does anyone have any experience in that area?
What made you chose Oroville? I'm from Chico and have had two rental properties in Chico that I have fixed up and sold. Oroville isn't that nice but considering that so many people moved there after the camp fire last year the housing market really took off and prices became outrageous.
Yes, Oroville is a good investment in my opinion. Rents are typically a little lower than Chico but house prices are a lot lower than Chico so not a bad return on investment.
@Jonathan Tang Welcome! Depends on the area and price. I have a property there now and have been going to Oroville daily for a month. Be careful in this town! There is potential and deals are there but its NO Chico!
Yes I would agree with Dylan, location is key and most of our issues are when the property is vacant.
Just curious, have any of you started to see the home prices in Chico start to level back out now from the housing crisis after the fire?
@Elizabeth L. Housing prices have settled for the most part in Chico. It will be interesting to see what the market does at end of next year when fire victims loss of use money runs out.
Hey everyone thanks for commenting! The property that I am buying is about 4miles from the city and about 2 miles away from the lake and a mile from the casino so its in a decent location! Buying a property on an acre land with 2 separate houses and a workshop. Will be getting about 3000-3200 in rent for the entire property a month. Anything I should be worried about or should know about Oroville? I picked Oroville because I got a really good deal on the property and the owner just wanted to walk away.