Investment property in IE (Fontana, Orange: renters, buying a house, neighborhoods)

[Purplxstar]

Hi

We're looking to purchase a property in IE. Our plan is to rent it out for 5-10 years, then possibly move there after retirement.

Does anybody have any rec's as to areas they recommend? We were exploring areas such as rancho, Fontana, upland, chino... What area would attract more renters? We're also hoping the house would not be too old, due to maintenance costs... Hopefully in one of those newer communities? Are there pockets of neighborhoods we should avoid?

Any input would be great! As we're still in the researching phase. TIA!

[bhcompy]

Find an area close to jobs with good schools, like newer parts of western Corona. Those are the areas that will be desirable for renters and yourself

[bouncethelight]

If you're considering moving to the home, after you retire, that's a lot different than just buying a house for an investment.

If it's just for an investment, then yeah, a house near jobs and closer to Orange County might be the best choice.

But if it's possibly going to be where you retire, then you might prefer living in a quieter community, further away from the freeways? And no reason that can't be a good investment as well!

[Dub D]

Originally Posted by bhcompy

Find an area close to jobs with good schools, like newer parts of western Corona. Those are the areas that will be desirable for renters and yourself

What the hell is Western Corona? Western Corona too me is the area off the 91 before the 15. Most of that region is apart of the Circle City area which is the oldest part of the city.

Pretty sure you mean South Corona. Most of North Corona has become Eastvale.

[Purplxstar]

I think our priority would be for the property to be income generating. We were actually looking at the area in Fontana off of 15 near baseline/cherry, any input?

[Dunbar42]

That area of Fontana isn't bad, more like Rancho Cucamonga which is a pricier place to rent. Whatever area you choose I'd go look go look at houses listed for rent in the rental price range you hope for and see how they compare to properties you are considering purchasing. Basically, just go see what "comp" rentals are going for in the area to see what you can reasonably expect to collect for rent. I'm sure you know to figure in all expenses including HOA's, Mello Roos (since that's a newer area) when figuring out if it will be cash flow positive.