Buy and rent out 3/2 home in Victorville as investment

james chino hills
Contributions:31

How is the rental market for 3/2 1200+ sq home built 1990 and newer in Vic. - get 1,000+/mo up in decent area ? Comparing to 2011 what kind of changes do you see in inventory is up or down, sold prices in early 2012? Is this a good time?

Thanks

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February 11 - US

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Justin Yee, "JUSTINvest"
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I use www.rentometer.com and www.finestexpert.com and compare with local ads on craigslist.org and rent.com for similar properties in the Victorville area. Since I'm a Realtor, I can also pull MLS data that indicate rent ranges of a target region. I like to compare my subject property to comparable properties renting by the neighborhood, size, features/amenities, upgrades (if any), school district, and age of the house. Furthermore, I would speak with active property managers in the area and other landlords to get a verification upon the median rent in the neighborhood.

Here is an example of a property in Victorville off Hesperia Road: http://www.finestexpert.com/rental-property/For-Rent/14378%20HesperiaRoad,%20victorville,%20ca?propertytype=sfh&beds=3&baths=2&sqft=1760&

It estimates an average of $1095 (range of $950-$1300) for this neighborhood. This is useful data. You would have to purchase for at a discount to make the investment property cash flow positively.

Let the numbers speak: rent compared to your purchase price of the rental house will dictate a good deal or not.