Is Buying In Palm Springs CA Smart?

Question

Hello Investors, I see on MLS alot of nice homes for sale in La Quinta/Palm Springs California Area. I am thinking of investing there, buy and hold or Flip. The ONE THING I notice is MANY, MANY days homes ahve been on MLS UNSOLD. What is going on in that market? Please advise.

John D. · Answer

hi @Joe Dardano.  What do you mean by "please advise"?  We are all looking for good cashflow and monthly income.  If you have a specific question, happy to try to help!

Tyler Hungerford · Answer

Hey @Joe Dardano there are a lot of opportunities in that area if you have the creative investment mindset. I've helped lots of people in the area purchase properties that were SFRS, duplexes or triplexes and then they converted those to larger units. There are a lot of opportunities to do this, just depends on the layout of the home.

Joe Dardano · Answer

Looking for long term hold and rent it out as Bed n Breakfast or Tea House, Air B and B. I have a partner who will live there. Looking for good cashflow and monthly income. Please advise.

John D. · Answer

Hi @Joe Dardano, that's a super broad question.  Whether you are looking to flip or hold, run the numbers on a few example properties you think look promising, share the data, and if you'd like I'd be happy to review and give an educated opinion on whether they look on point or not.There are types of properties, areas,  and price points where DOM before sold are low.  And there are definitely other property profiles that are likely to sit.

Josh Sellers · Answer

I have been considering getting something there with the aim to make it an airbnb. I feel like the area is more of a vacation area than a live in area for the lower cost units.