If you’re thinking about investing in rental property in San Bernardino County or Riverside County you might be wondering what makes a good rental property in the Inland Empire. We’ll share with you 4 of the factors to see if rental properties are right for you…
Rental properties can be a great investment. From the cash flow to the security of owning a real asset, real estate investors have known for a long time that rental properties are an amazing asset to keep in your portfolio. But one question persists that needs to be answered before you invest, “What makes a good rental property in the Inland Empire?”
After all, you don’t want to invest in ANY property – you want to invest in the right one! So, here are 4 of the best factors that make up an ideal rental property in the Inland Empire which is comprised of San Bernardino County and Riverside County. Whether you’re looking in a specific city like Moreno Valley, Riverside, Hemet, Corona, Yucca Valley or any other Inland Empire city this a great area to find a good rental property in Southern California.
What Makes A Good Rental Property In The Inland Empire?
#1. Strong House, Cosmetic Upgrades Only
Unless you’re handy, or have a lot of experience, you may not want to invest in a house that requires a lot of effort to get it ready to rent. After all, every day that you delay renting is a day that you don’t get the cash flow you desire. A strong, well-built house that is free of problems and only needs cosmetic upgrades is a great place to start. Yes, you might pay a little more up-front for this kind of property but you’ll save time and money afterward in getting it ready to rent.
While you might want to spend a little more for a house that is already in good condition, you’ll still want to make sure that it’s affordable. In the Inland Empire area, there’s a mix of properties – most are affordable and others are not. (This is what we do here at Haven Avenue Properties – we find the affordable ones! Give us a call at 909-375-1489 or click here and fill out the form to get on our Buyer’s List and see some affordable rental properties in the area.)
#3. Good Rental Market
You also need to make sure that this is a good rental market. The truth is, not all markets are good rental markets. In some areas, everyone buys and nobody rents; in other areas, everybody rents but they move too much. A good rental area is one where there are plenty of long-term renters. And, one where you get a get return on your investment. The Inland Empire is a good rental market.
#4. Cash Flow
Cash flow is the ability to pull money out of a rental after expenses. With the prices of properties in most of southern California so high investors tend to buy properties for the price appreciation even if that rental loses money every month. That is speculation not investing. In the Inland Empire housing prices are much more moderate and many area have a very good return on investment. The Inland Empire is an excellent area for positive cash flow, a necessary component of real estate investing.
These four factors exist in rental properties throughout the Inland Empire area and we can help you find them. In fact, we find properties that meet these and other requirements for what makes a good rental property in most Inland Empire cities… and our clients love working with us because we help them bypass the time and effort required to FIND these properties, since we’ve already done a lot of the legwork.