I am new to BiggerPockets and investing in general. This is my first post. I have sent approx 800 yellow letters in San Diego targeting homes with at least 50% equity. Not much response as yet. But I will Keep trying. I was considering targeting the same but in El Centro CA. Does anybody have an opinion or any experience in this area east of San Diego?
Haha. When we were growing up we called it the Center of *el. It is mostly a farming community. Not much going on there.
Some of the desert communities outside of LA seem to do fairly well because of the urban sprawl. San Diego is a long ways from spreading to El Centro.
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I know what you mean. I looked at a mailing list generated for 2 of the zip codes there and was surprised how many homes are owned outright or have been owned by the same person for many years. A few positives is that there is a prison there that employs alot of corrections people, and border patrol has a strong presence there. My thought was these folks get transferred need a place to buy or rent while they are there until getting transferred to cooler climates. I dont need to make a kiliing there, just one deal.
My family comes from the Imperial Valley (the county in which El Centro is located) so I may have a bit of insight. There most definitely is a large amount of owners who own outright. However, that is a great opportunity in the long run. Why? Mainly because the reality of what @Steve Olafson said, it's like living in *ell. The children of those homeowners most likely live somewhere other than the small town in which they grew up. So when those owners pass, move to a rest home/kids...etc. The people who inherit the property (which is in the town they strove their whole life to leave) are eager to sell. I know this from personal experience with my grand parents and parents.
Additionally, that area is growing, albeit slowly.
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