I am sure you have heard about increasing property values in Orange County. Have you heard about the housing shortage? Rental rate increases? These are things all real estate investors consider when purchasing an income producing property. Is this your first time purchasing a multi-family property? Do you own many? Are you planning on living in the property? How much money do you have for a down payment? Do you know the meaning of cash reserves? These are all things we can help you figure out. I specialize in income-producing properties. I can surely help you devise a plan for your future investing.
Location is important. It's a major factor in defining price. In Orange County you can find blocks and even neighborhoods of multi-family properties. We can do the research and find average rents, turnover rates, parking availability, separate meters, and nearby schools. All these things will help determine the rentability of your new investment property. Our Advanced Search option allows you to search by Neighorhoods.
Buying real estate is one of the most common ways to create wealth. In southern california, with soaring real estate values, it’s becoming more and more difficult to acquire property. But, with the right guidance you can still find opportunities.
Here in Costa Mesa there are nearly 7000 rental properties. Rents range from $10,000 a month for large homes to $1,400 a month for studio apartments. In LA and Orange County the rental vacancy rate is 4%(April 2019), very low, which means it is very difficult to even find a place to rent.
That has allowed owners to raise rents and tighten their guidelines for renters. Because of these tighter guidelines, it has become easier to qualify for first time home buyer programs than to qualify for renting an apartment or home. If you have questions about buying your first home, reach out to me and we can discuss some options. You might not have to put down as much as you think.
Let’s take a 4 unit rental property as an example. One loan program really stands out...ONLY 4% down with a loan up to $1,397,400. Some requirements of this loan program are:
Once you have acquired a rental property in Costa Mesa you will have a couple of options. Rent the units out as yearly leases or do short term rentals like Airbnb. Costa Mesa is great for Airbnb because of the proximity to Disneyland, Knotts Berry Farm, San Diego Zoo, Beautiful Beaches, and lots of nightly events that draw tourism. Nightly rentals range from just under $100 per night to over $200 per night. If you have the units rented for 20 nights a month that will surely cover your expenses. There is a lot more to cover when it comes to acquiring rental property so reach out to us and we can dive deeper into the subject of creating wealth. Scroll below to look at all the available rental property for sale in Orange County. Then give us a call so we can show you how to do it.
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.