Is it too late to invest? (Long Beach, Riverside: for sale, real estate, rental)

[ducviloxi]

Since everyone is going onboard with the real estate investing mania I was wondering if there are any investing opportunities left in Orange County? 2 bedroom properties that are cashflow positive? Or is it too late already? The properties I have found so far have high HOA fees and list prices and are not cashflow positive.

I am assuming LA county is similar so how about Riverside or San Bernadino counties? Any opportunities left there?

[Coldjensens]

You are about 11 - 15 years too late.

[MediaArtist]

Way too late. The big hedge funds are full-in on real estate. I'd say the best opportunity you had would have been late 2011 when no one was buying, and EVERYTHING was cash flow. Now it feels like we're back to 2006. I've been getting realtor mailers asking if I want to sell my house.

[ducviloxi]

So what is your opinion? That investment opportunities in real estate are not going to return to this area for another 10, 15, 20 years??

[russlancea]

Well, ducviloxi, I just started asking the same thing, but I won't be investing in a rental anytime soon. I did look around and saw a condo in the Bixby Knolls area of Long Beach that I'm familiar with. With 20% down, I'm positive it would rent for a profit. Only problem about investing in a condo unit is the HOA can go up and those CC&R's sometimes require units to be owner-occupied.

So I looked for non-HOA properties and found some detached homes--also in Long Beach. Now whether I want them or not is still in the air. I'd like to know I won't get shot at or mugged when I collect rent or visit for some other reason. Still, these units seem like a possible option.

Now what about the listing below? Why would anyone consider this? I'd have to know and trust the other parties enough to do this. If any one of them gets lazy and doesn't pay their portion of the mortgage, I'd have to pay it or my credit is shot, right?

Wait, no lender's going to lend me money for this. I'd have to have the $85k upfront. Why would I do this?



18512 DELOISE Ave Cerritos, CA 90703

$85,000
Price
6
Beds
3
Baths
2,253 Sq. Ft. $38 / Sq. Ft.



Built: 1969 Lot Size: 5,114 Sq. Ft. On Redfin: 7 days
Status:

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1 of 1

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You are purchasing an UNDIVIDED ONE-THIRD INTEREST ONLY. The other 2/3 interest is not being offered for sale. This is a Probate Auction! No asking price, no minimum starting bid. Property is offered "as-is". Court confirmation is required. See agent website for more information and to view all properties in the auction. Buyer (and broker, if applicable) must register the day of the auction at the property. Please do not disturb occupants


Property Type Residential, Single Family

[certsevtxert]

I have a bridge for sale if you are interested...

[Joe Van Fossen]

There are still investment opportunities out there, but you're probably better off investing in Riverside county or San Bernardino county.

[MediaArtist]

Originally Posted by ducviloxi

So what is your opinion? That investment opportunities in real estate are not going to return to this area for another 10, 15, 20 years??

I'd say we're a good 3-4 years away from anything resembling a normal housing market. Until "Wall Street" removes itself from this market at the very least. I've read statistics that investor purchases are anywhere from 30% to 60% depending on the city. This is unheard of.

Luckily I've never had to worry about all of this speculation. I have a house just to live inside of it. What a novel thought in these days.

[killer2021]

There are good real estate investments out there but you have to learn to haggle and shop around.