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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Excellent advice (NT) Posted by Tom on May 29, 2009 at 5:53 AM In Reply to: Re: What's a good area to buy and rent SFR properties? posted by dond on May 29, 2009 at 5:08 AM : : I'd like to get some suggestions from the community here on a good LA, OC or Riverside area where it is good to buy and rent out SFR properties under $250k. In other words, somewhere where the properties have dropped significantly that the monthly rental would generate a nice profit over the mortgage payment. It's important for me to select an area where I can rent it out quickly and not have issues collecting rent (perhaps there are some areas where the tenants are better at paying on time, not sure). : : I live in the Downey area and wouldn't mind going out as far as Palmdale, Corona or Riverside if that seems to be the best suggestion. : Speaking as a landlord with many years of experience, I'd say stick within 10-15 miles of home. You will be making A LOT more trips to the houses than you expect. Don't be surprised if you have to show it 20-30 times before you find the right tenant. Also you will have an amazing number of maintenance problems. : That will go a long way toward helping you find the right areas. You probably already know them. If you need more help in your local area, go to the police department and ask to see a map showing what areas are generating the most service calls. : Join the apartment association, it will have a lot of training and other resources which you will find invaluable. You are considering going into a new business, and you need all the training you can get. : Dond Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : I'd like to get some suggestions from the community here on a good LA, OC or Riverside area where it is good to buy and rent out SFR properties under $250k. In other words, somewhere where the properties have dropped significantly that the monthly rental would generate a nice profit over the mortgage payment. It's important for me to select an area where I can rent it out quickly and not have issues collecting rent (perhaps there are some areas where the tenants are better at paying on time, not sure). : : : I live in the Downey area and wouldn't mind going out as far as Palmdale, Corona or Riverside if that seems to be the best suggestion. : : Speaking as a landlord with many years of experience, I'd say stick within 10-15 miles of home. You will be making A LOT more trips to the houses than you expect. Don't be surprised if you have to show it 20-30 times before you find the right tenant. Also you will have an amazing number of maintenance problems. : : That will go a long way toward helping you find the right areas. You probably already know them. If you need more help in your local area, go to the police department and ask to see a map showing what areas are generating the most service calls. : : Join the apartment association, it will have a lot of training and other resources which you will find invaluable. You are considering going into a new business, and you need all the training you can get. : : Dond [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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