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Old 01-18-2013, 09:32 PM
 
64 posts, read 64,315 times
Reputation: 29
Default Is Los Banos a good place to invest?

My relative wants to buy a house in Los Banos as an investment property, what do you think?

1. What is typical commute time between Los Banos and Sunnyvale/San Jose area? Morning and afternoon.
2. What kind of renters will choose Los Banos?
3. What is approx. rent for a 3 bedrooms 1500 sq ft home? How is rental market there?
4. How about safety in Los Banos?

5. Pros and cons investing Los Banos.

Thank you in advance.

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Old 01-18-2013, 11:57 PM
 
6,808 posts, read 859,539 times
Reputation: 1911
Oh lordy what a painful commute to contemplate...

http://groups.yahoo.com/group/BATN/message/37903
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Old 01-19-2013, 02:13 AM
 
Location: Pleasanton Ca
757 posts, read 1,094,712 times
Reputation: 489
I have a friend who owns two 4 plexes in Los banos. It's okay because he paid so little they cash flow well, but he sure complains about the rentals a lot. About 8 months ago I ran numbers to buy a house and rent it out. I drove to Los Banos and looked around. IMHO and your may be different

1. economy there isn't doing well, I know someone who owns a business there and says it's pretty depressing.
2. It's pretty isolated-it was a long drive to get there
3. Seeing guys ride down the street on bikes with 2 pitbulls on leashes makes me skeptical of some of the neighborhoods.
4. My projections on returns on rental properties were not any better than in other areas which I felt would have better appreciation and more resistance to going down in value.
5. Depending on your rental property many times renters will be of lower middle class on down. There's not a lot of high paying jobs in the area.
6. When it comes to rentals I always like to ask myself would I like to live there? If not would I be okay with having to live there. Los Banos was a no in both cases.
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Old 01-19-2013, 08:39 AM
 
307 posts, read 245,229 times
Reputation: 272
Did you know Los Banos mean the toilet in spanish?
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Old 01-19-2013, 09:12 AM
 
Location: San Jose, CA
6,555 posts, read 15,657,415 times
Reputation: 2272
It means "the baths," but it's run-down and depressed enough that the alternate description isn't argued with. There's nothing there and San Jose is an hour and a half away, at best. It's worse in some ways than Stockton. At least in Stockton, there's some heavy industry, an airport, rail connections, etc. Los Banos has I-5 and an In N Out Burger.
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Old 01-19-2013, 11:12 AM
 
Location: SF Bay Area, CA
4,706 posts, read 3,450,083 times
Reputation: 3120
Had a colleague that commuted from Los Banos to Sunnyvale 4 days a week. Roughly, 90 minutes each way, sometimes more. The commute eventually got to him and now, he rents a room in N. San Jose and goes home only on the weekend, to see his family.
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Old 01-19-2013, 01:13 PM
 
6,808 posts, read 859,539 times
Reputation: 1911
Quote:
Originally Posted by sonarrat View Post
It means "the baths," but it's run-down and depressed enough that the alternate description isn't argued with. There's nothing there and San Jose is an hour and a half away, at best. It's worse in some ways than Stockton. At least in Stockton, there's some heavy industry, an airport, rail connections, etc. Los Banos has I-5 and an In N Out Burger.
Los Banos does get a lot of business at their 2 McDonalds from Fresnans on their way to Santa Cruz or SJ/SF.
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Old 01-19-2013, 08:03 PM
 
Location: Upper East, NY
1,144 posts, read 1,173,325 times
Reputation: 519
If you don't know by general knowledge that everything east and south of San Jose and not along the coast is shtt, then you shouldn't be investing in a house anywhere.
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Old 01-20-2013, 12:18 PM
 
248 posts, read 210,928 times
Reputation: 340
Los Banos is on its way to becoming a slum...already is in many ways. I wouldn't consider buying in Los Banos as an investment opportunity...quite the opposite. Unless you were buying agricultural space maybe, but your common single family home would not be wise. Contrary to everyones belief 10 years ago, buying outside the bay area and away from the coast is a terrible place to put your money, if you are expecting anytype of return.
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Old 01-24-2013, 03:52 PM
 
64 posts, read 64,315 times
Reputation: 29
Thanks all for excellent comments. Now, I feel Tracy is much better than Los Banos for investment, at least renters can take ACE train at 7:11 am from Tracy and arrive Great America at 8:33.
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