I’m a newbie in the high desert (victorville, apple valley, hesperia) area of california. I was wondering if there are any other newbies who have successfully started investing in this area, and if so what methods did you use to get started? There seems to be challanges finding motivated sellers in this area who don’t want full market value for their property. I was just wondering if anyone is investing in this area of southern california. thanks for taking the time to read this post.
i bought a house in jan 04 for 167k with closing costs off mls. i got
a 3/1 arm at 3.75% I rented it and cashflowed $150/mo. every other
month the section 8 tenant paid their share of the rent and i cashflowed
an extra $350 those months.
i sold it july 05 and pocketed 79k after closing and other costs. now i’m
investing out of state coz every 4th person in CA is an investor, including
my landlady and she’s negative several hundred every month.I sold her my
condo last august[ is down 10% already!] and am renting it back
[thats called having your cake and eating it too!]
Thanks for the info. I agree that every person I come across is an REI. The area in which I’m concentrating my investment resources seems to have a lot of potential. Everyday the local newspaper have at least 4 new default notices listed. I’m trying to focus my efforts in pre-foreclosure SFH’s, with the goal of buy and hold. In this area prices have appreciated so rapidly that most sellers can get full market value for their homes. I’lm determined to keep working until something breaks open for me. What area do you invest in now?
Salt lake city.
also dabbling in st george, boise and indiana. but SLC has great potential.