All Forum Posts by: Richard Bastar

@Jordan Wight how did this go?

As of now, not many rentals in the area...so probably a good deal to look at, in the current times (only found about 4 or 6 rentals in the area on the internet, not including driving around seeing signs).  I think the Menifee/Murrieta/CanyonLake (if you can work that) are better areas.  I currently have one in Menifee and was looking at Lake Elsinore initially.  My rental taxes are 1.01...in fact, I've heard they're around the lowest in the area, but haven't actually confirmed that.  If it were me, I'd have to check pretty diligently on the other rentals in the area, to try and find solid comparisons (seems to hard right now 8/26/2020).  Seems alright though, and I wouldn't necessarily rule it out right away.  Then again, looks like your post is a year old...let us know.  Be interesting to see how things went.  OBVIOUSLY, it all (the deal in general) depends on your financing details.

Cheers, Rich

@Tom Kastorff I agree with you there, all of it. Those are definitely the things he needs to think about and ultimately I think just decide on...and take action. I know lots of people who think & think, and plan & plan, and years go by, then life goes by, and so on. Grip it and rip it, but be calculated!

It's good though @Jeremy Tews to have discussions and start threads up - just don't get emotional or feelings hurt, it's good training, learning, and experience/feedback.

Hey Jeremy, sounds like a great plan - I think tons of people will/would want the same thing.  Have a rental property in Menifee (3years now) and I think you'll find inventory to be low - I have seen things come on the market for sale but they usually move quick.  Prices have dropped in that area some, that's for sure.  They (whoever that is, it's always a "they" ha) are moving, FINALLY, on building out the commercial plaza / movie theater complex there, and getting it going.  It's supposed to be the largest movie theater area in Socal (or California), I forget.  Condos/townhomes have gone in and people are living in them now, that's been good to see.  I hear and know of many people moving there or looking to move there - big thing there is that it's affordable and in a decent spot to commute to work...lost of people will commute down to San Diego or areas in OC/LA.  I know of MFH and about it, but am not currently in it - I'd say keep looking for properties, connect with people to know more, and get firm on your numbers so when people start offering to 'help' you'll know where you need to be number-wise.  Also, if you're good at crunching investment numbers, that will also help - I found that most folks are either retail, or don't actually understand investment numbers and how that works.  Good luck buddy!

@Jose Miron I'm with @Patrice Penda above  ^  you have to be honest with yourself and those questions to really understand where the payoff is going to be...that will depend on your goals and what you can bear or handle in the interim.

I bought a house in Menifee and live here now.  I've had it just under 1.5 years and am looking at and analyzing my next move.  I know what you're feeling and wondering!

Looking forward to hearing what you come back with or do - best of luck, and don't hesitate to reach out with any questions.

Cheers,

Rich

rgbastariv at gmail

@Nigel Johnson - I own property in Menifee, let's catch up. Shoot me a message and we'll connect

Definitely seems interesting, sounds like you just have to find the right deal and logistics/ancillary items to make it work correctly.

Hopefully it works out and you can make a move sooner than later!  I'm in the Menifee area also.  I'd be happy to catch up with yall if you're interested - rgbastariv @ gmail.

Cheers

@Derek Henkes good to hear you're connecting up with other people on here - nice work on the Marine Corps, I just got out of the Army last year and did the VA route. I'm in the Menifee area, and used to live in Riverside near Magnolia/La Sierra - I'm open to connecting up if you'd like to!

Email - rgbastariv at gmail

Cheers

@Kyle S. I would recommend buying the cup of coffee for Joe and picking his brain and talking to him - I have done it and many others on here...that's an easy first step in meeting and talking with a local pro.

Good luck buddy and I hope you crush it

Robin, sending you a note

Good point, not too sure of ARV.

Someone should do their due diligence on it regardless, but it's going to be around 6-650.  PP around 510, probably needs 60 to bring up.