Investment opportunities in the Inland Empire
Category : Laguna Beach Real Estate
You can buy a like-new property for $125k to $225k in the Inland Empire and rent it our for a significant return. Rents are strong in the Inland Empire since so many people lost their homes but still need a place to live.
I’ve been representing West Coast Renovations which buys distressed properties and do a major rehab on the property. This is no paint and carpet remodel. This is a ‘make the home almost better then new’ remodel. See their work by clicking on the link below or on the side. Super nice.
The beauty of a major remodel is that the likelihood of something going wrong, like a leaky roof, is minimized. All it takes is one new roof to cut your profits to nothing.
Most of their properties are located in the Inland Empire. The following link will take you to their inventory: Click Here
So here’s the approximate math.
Price of new property: $175,000
Down payment (25%) $43,750
Monthly payment on the loan $764 at 5.75% on 30 year loan
Rental is around $1,100 to $1,600 depending on the property and location.
You still need to factor in other costs like taxes, gardener….and you might want to hire a property manager.
Let me know if your interested in exploring this further. I can do comps on the area, as well as finding what the rents are in the area.