High Desert RE (San Bernardino, Oceanside, Pomona: section 8, real estate, rentals)

[lvtony]

I was thinking about picking up some low priced real estate in Barstow/Victorville to use as rental properties.

I found a number of single family homes priced under $50k, many as low as $10-$20k. The only thing that concerns me is job prospects in those areas. Thoughts?

As low as prices are you can't go too wrong. What are rents getting in those cities anyway?

Thanks for the feedback.

lvtony

[genjy]

My parents live in Hesperia and I know their property on a half-acre lot is worth about $130K right now, which I think is already ridiculously low for a property in SoCal.

I didn't imagine it was possible to buy a house for $10K-50K in the town next door. That's crazy.

For work, you would have to drive down the hill to Rancho Cucamonga, San Bernardino, Pomona, and so on, unless you could find work at Victor Valley College, which undoubtedly is one of the biggest employers in the High Desert.

[Gandalara]

Originally Posted by lvtony

I found a number of single family homes priced under $50k, many as low as $10-$20k. The only thing that concerns me is job prospects in those areas. Thoughts?

Barstow - You might be able to rent to military who are stationed at Ft Irwin ...

[Mojave82]

There is a reason property values are so low. The weather in the high desert is hot, hotter and dusty. The wind never ends and trash is everywhere. Its just a dirty, dusty city in decline.

Do a search on this forum. The decline of Victorville in the last 20 years has been dramatic. Because of legal delays, the former base never reached its full potential. Victorville has a lack of skilled workers, compounded by the large population of illegals. As if that wasnt enough, victorville is home to 3 prisons. Inmates that are released dont go far. In addition, . A very large gang culture exists in Victorville, as well as a very large welfare class.

They call it Victim Ville for a reason, its a city in decline. Property in Victorville, Adelanto or Hisperia would be too much of a risk.

[HiDesertRat]

If you are looking for houses to buy and set up for rentals; you may want to look at the Twentynine Palms area. The military base isn't going anywhere for a very long time and is growing all the time.

[Dallas Cowboys Fan]

I have some friends that live up in the high desert, and one of the reasons that property prices have dipped so low is that the economy/job situation up there is really bad right now. Heck, most people who would normally be renting could probably afford to buy their own house if it was under $50k. So it's probably not the most stable rental market right now.

[lvtony]

Thank you everyone for your very valuable point of views. I will be keeping a close eye on the economy in the high desert over the next few months.

Tony

[lvtony]

Anyone know what rents are in the area? Would $500 be a lot of money? Thanks for the heads up about welfare. Section 8 might be an issue.

[Mojave82]

No $500 wouldn't be much in some areas, but you get what you pay for. Want to live down on D-Street or in Adelanto, $500 could get you something. I would steer clear of Victim Ville for any type of investment property. This is a City that is about to implode. I have lived a number of years in VV and the decline has been slow and steady. There are indications that VV is teetering on financial ruin.

Moderator cut: cross-posted

Want investment property, look further south in Temecula or Oceanside.