Corona.. Time to dip in?

Crispy3

New member
Trying to get everyone's thoughts on Cornoa real estate as an investment.. is it due to rebound? time to dip in?
 
Crispy3 said:
flat or slightly positive... it's really about appreciation rather than cash flow

The answer is no.  No cash flow, no buy.

RE prices in Riverside County is highly violatile, it can go up by 300% or drop to 1/3 of your purchase price.  I have bought properties there with all cash and lost money selling it 2 years later.  And I have bought houses there with 25% down and the rent is 2-3 times my mortgage.  I would think buying investment homes there with no cash flow is speculative or gambling.

Look up and down the I-15 for better deals.
 
momopi said:
Crispy3 said:
flat or slightly positive... it's really about appreciation rather than cash flow

The answer is no.  No cash flow, no buy.

RE prices in Riverside County is highly violatile, it can go up by 300% or drop to 1/3 of your purchase price.  I have bought properties there with all cash and lost money selling it 2 years later.  And I have bought houses there with 25% down and the rent is 2-3 times my mortgage.  I would think buying investment homes there with no cash flow is speculative or gambling.

Look up and down the I-15 for better deals.

I agree 100% with momo. If appreciation is your desired outcome then just put your money in stocks or SPY
 
qwerty said:
momopi said:
Crispy3 said:
flat or slightly positive... it's really about appreciation rather than cash flow

The answer is no.  No cash flow, no buy.

RE prices in Riverside County is highly violatile, it can go up by 300% or drop to 1/3 of your purchase price.  I have bought properties there with all cash and lost money selling it 2 years later.  And I have bought houses there with 25% down and the rent is 2-3 times my mortgage.  I would think buying investment homes there with no cash flow is speculative or gambling.

Look up and down the I-15 for better deals.

I agree 100% with momo. If appreciation is your desired outcome then just put your money in stocks or SPY

I prefer VTI or VB.
 
It's always a good time to take a dip.

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I have a investment property that just went into escrow a couple of days ago (in San Gabriel). It is a condo and I didn't think it is going to appreciate anymore so I decided to sell it.. I figure I'd use the newly freed up $ and find something with more potential..

I'm choosing Corona/Eastvale because I believe it is the next FCB area.. lots of mainland china folks are/will be migrating there. I wouldn't be surprised if a Ranch99 pops up there soon.

I am also already heavily in index funds and other far more riskier investments.

What are the chances of the properties in Eastvale dropping another 30%? it is basically at $160/sqft already. That's like free land!
 
Crispy3 said:
I have a investment property that just went into escrow a couple of days ago (in San Gabriel). It is a condo and I didn't think it is going to appreciate anymore so I decided to sell it.. I figure I'd use the newly freed up $ and find something with more potential..

I'm choosing Corona/Eastvale because I believe it is the next FCB area.. lots of mainland china folks are/will be migrating there. I wouldn't be surprised if a Ranch99 pops up there soon.

I am also already heavily in index funds and other far more riskier investments.

What are the chances of the properties in Eastvale dropping another 30%? it is basically at $160/sqft already. That's like free land!

Resale or new construction?
I didnt hear about the FCB movement to Eastvale.
 
eyephone said:
Crispy3 said:
I have a investment property that just went into escrow a couple of days ago (in San Gabriel). It is a condo and I didn't think it is going to appreciate anymore so I decided to sell it.. I figure I'd use the newly freed up $ and find something with more potential..

I'm choosing Corona/Eastvale because I believe it is the next FCB area.. lots of mainland china folks are/will be migrating there. I wouldn't be surprised if a Ranch99 pops up there soon.

I am also already heavily in index funds and other far more riskier investments.

What are the chances of the properties in Eastvale dropping another 30%? it is basically at $160/sqft already. That's like free land!

Resale or new construction?
I didnt hear about the FCB movement to Eastvale.

Both really.. slowly but surly.. once the Chino Hills area become too crowded FCB will goto Eastvale in full force.. at least that my guess.

for those that can read Chinese :http://zhidao.baidu.com/link?url=pJ...GeayLCV-Ejjk7gsXiHspRaWHop482ydWvdseEFsURs4ou
 
Crispy3 said:
choobacca said:
Crispy3 said:
I wouldn't be surprised if a Ranch99 pops up there soon.

http://www.99ranch.com/stores/corona-california
Corona already has a 99 Ranch.

Ahh. there you go... I haven't done much research.. will probably head out there in a few weeks to take a look at the neighborhood.. last time I was out there the entire place smelled like cow dung.

Type in eastvale in google and look at the ethnicities that comprises of the city. Which was already discussed on TI. (3 car garage topic)
In regards the price increase of property, hasn't most cities have modest price increases?

There not that many jobs in riverside and the commute to la or oc is a #%^^#^.
 
I would say it increased 30% since the bottom.. but it also dropped 50% before hitting bottom. The $/sqft still seems like a great deal.

As far as jobs.. I would say it's close enough to Chino/Walnut and that area where lots of Chinese ppl do business. Also since this is a spec play on FCBs, I don't think jobs is a big factor... for all I know it might be China folk buying up properties for their mistress or just so they have a place to dump money at.

It is just an idea and I clearly need to do a lot more research.
I do appreciate all the feedback!

 
just found this bs :
http://www.eastvaleca.gov/index.aspx?page=201
http://www.eastvaleca.gov/modules/showdocument.aspx?documentid=2777

Basically states that rental properties needs to have a business registration and is subject to annual inspection which the owner needs to pay out of pocket. Also the property can be inspected at anytime whenever someone calls in and complains about something.

How did they allow this to happen? I see why the market there isn't recovering as fast as I expected now... definitely having second thoughts..
 
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