Buying in Baker Ranch for investment property?

[eclipxe]

I think buying in BR for investment reasons is not a wise idea. That nearby county jail has been approved for expansion, which means it will house more criminals, and more dangerous criminals.  That was a big turnoff for a lot of people who were considering it, and I think that will always be a hurdle with future sales.

That being said, most of Irvine and the new communities of Tustin (Greenwood, Tustin Field Columbus Grove, etc...) are all built on top of a toxic plume. We were actually in escrow for a home in Tustin Field, then we got the appalling list of disclosures and called a geologist to get some more info. What we learned made us pull out of escrow, and halted our real estate search in Irvine.

Jail, toxic plume, landfill, cemetery, Santa Ana, Great Wall..

Every location has its "turn off" for some people. The only things in that list that would actually impact my purchase decision would be the plume and proximity to Santa Ana, as those have a potential to impact day to day life (sickness, crime/decline). Realistically the jail poses no actual physical threat to safety - but I get that it could be a mental thing. Just like the cemetery n

 

[Coleman]

I think the question begs - do you want to live next to people while they are IN jail or OUT of jail?



Personally, if I wanted to buy a house for investment purposes, it would not be in Orange County.

$600k OC house rents for $2,500
4 - $150k houses in another state rents for $5,000

 

[qwerty]

I've lived in Columbus square for over two years, nothing hAs indicated that living here poses any bigger threat than living in irvine. I can understand why one would think that, but nothing has happened here that hasn't/doesn't happen in irvine. I walk the neighborhood twice a day, sometimes 3 times a day. You don't see hoodlums walking around, I'm probably considered the hoodlum since I encounter mostly Asians/Indians.

 

[liveatoc]

I think the question begs - do you want to live next to people while they are IN jail or OUT of jail?



Personally, if I wanted to buy a house for investment purposes, it would not be in Orange County.

$600k OC house rents for $2,500
4 - $150k houses in another state rents for $5,000

Looks  good to say, but implementation and maintaining long run maybe challenge?

 

[Coleman]

I think the question begs - do you want to live next to people while they are IN jail or OUT of jail?



Personally, if I wanted to buy a house for investment purposes, it would not be in Orange County.

$600k OC house rents for $2,500
4 - $150k houses in another state rents for $5,000

Looks  good to say, but implementation and maintaining long run maybe challenge?

There are definitely more issues.  Increased chances of vacancy... increased chances of a bad tenant damaging property.

Then again, we're talking about $2,500 per month difference.  With no risk, there's no reward.

Ask me how many properties I have out of CA...

(none - not really into risk, haha Therefore, forever poor)

 

[eyephone]

I think the question begs - do you want to live next to people while they are IN jail or OUT of jail?



Personally, if I wanted to buy a house for investment purposes, it would not be in Orange County.

$600k OC house rents for $2,500
4 - $150k houses in another state rents for $5,000

Looks  good to say, but implementation and maintaining long run maybe challenge?

Buying out of state and renting is a better option like Coleman mentioned. The key is to have the properties in good locations.

 

[hello]

seriously?  Ask any real estate investor and you wont see any of them looking there for investment.  Your only play at Bakers Ranch would be appreciation which does not seem likely.  Affordability is crap and too many people have been drinking the kool-aid lately.  Perhaps you might get some short term appreciation but that will hardly cover costs of doing business.  I see more chance of flat prices/declining prices in the next couple years than appreciation.  Also forget the buy and hold play... although rents are up, they will not cover your costs in the OC 

If you are looking to invest, then Orange County is not the place to be.  Investors still making money in high desert and outside Cali.  Perhaps the seasoned and lucky investors might find a deal or two in OC, but for the general public you are SOL.  You will probably get much better returns with A LOTTTTTT less work by placing that money in an index...

 

[jmoney74]

Ogdennville is the place to buy. They have a Monorail.

 

[seachange]

A LOT of companies are located in Lake Forest. I don't think people realize how many jobs are there. All the way from F.R., to B.R., and all the way down to the 5 and beyond.

More companies are located in irvine/newport/Costa Mesa/santa Ana - all 5 -10 minutes from greenwood

... which is fine if somebody is okay with living that close to Santa Ana, etc. For instance, I personally am okay with it but Mr. SoCal refused to even consider that part of Tustin. To each his own.

What are some of the bigger companies in Lake Forest? We are trying to think outside the box (Irvine) and looking at surrounding areas but not very familiar with other cities.

 

[liveatoc]

Del Taco
Oakley, Inc.
Panasonic Avionics Corporation
PSSC Labs
Sole Technology
SPARTA, Inc.
Turtle Rock Studios
Wet Seal

There are few big companies near the border of Irvine and Lake Forest of Bake PKWy Road and Alton PKWy Road.

 

[Coleman]

https://en.wikipedia.org/wiki/Category:Companies_based_in_Lake_Forest,_California

Also Alacer the makers of Emer Gen C

 

[WTTCHMN]

Del Taco
Oakley, Inc.
Panasonic Avionics Corporation
PSSC Labs
Sole Technology
SPARTA, Inc.
Turtle Rock Studios
Wet Seal

There are few big companies near the border of Irvine and Lake Forest of Bake PKWy Road and Alton PKWy Road.

Del Taco HQ just sold off
Wet Seal bankrupt

 

[seachange]

Del Taco
Oakley, Inc.
Panasonic Avionics Corporation
PSSC Labs
Sole Technology
SPARTA, Inc.
Turtle Rock Studios
Wet Seal

There are few big companies near the border of Irvine and Lake Forest of Bake PKWy Road and Alton PKWy Road.

Turtle Rock Studios seems like a cool company. The name makes you think it's the Turtle Rock in Irvine but it is in Lake Forest.

 

[eclipxe]

Del Taco
Oakley, Inc.
Panasonic Avionics Corporation
PSSC Labs
Sole Technology
SPARTA, Inc.
Turtle Rock Studios
Wet Seal

There are few big companies near the border of Irvine and Lake Forest of Bake PKWy Road and Alton PKWy Road.

Del Taco HQ just sold off
Wet Seal bankrupt

http://www.ocregister.com/articles/levy-653987-company-taco.html

"
Del Taco?s headquarters will remain in Lake Forest. Paul Murphy will continue to run the chain as chief executive."

 

[WTTCHMN]

Del Taco
Oakley, Inc.
Panasonic Avionics Corporation
PSSC Labs
Sole Technology
SPARTA, Inc.
Turtle Rock Studios
Wet Seal

There are few big companies near the border of Irvine and Lake Forest of Bake PKWy Road and Alton PKWy Road.

Del Taco HQ just sold off
Wet Seal bankrupt

http://www.ocregister.com/articles/levy-653987-company-taco.html

"
Del Taco?s headquarters will remain in Lake Forest. Paul Murphy will continue to run the chain as chief executive."

Ummm, I don't think so:http://www.ocregister.com/lansner/county-667639-south-taco.html

Del Taco, AGN, BRCM... that's what they all say until SHTF.

 

[eclipxe]

Del Taco
Oakley, Inc.
Panasonic Avionics Corporation
PSSC Labs
Sole Technology
SPARTA, Inc.
Turtle Rock Studios
Wet Seal

There are few big companies near the border of Irvine and Lake Forest of Bake PKWy Road and Alton PKWy Road.

Del Taco HQ just sold off
Wet Seal bankrupt

http://www.ocregister.com/articles/levy-653987-company-taco.html

"
Del Taco?s headquarters will remain in Lake Forest. Paul Murphy will continue to run the chain as chief executive."

Ummm, I don't think so:http://www.ocregister.com/lansner/county-667639-south-taco.html

Del Taco, AGN, BRCM... that's what they all say until SHTF.

You don't think so about what exactly? Maybe I'm misunderstanding but the sale of the office park doesn't mean it's moving. Del Taco didn't own the office park before. It was owned by LaSalle Investment Management. Just sold to a different group of investors. What does that have to do with SHTF?

 

[eyephone]

Del Taco
Oakley, Inc.
Panasonic Avionics Corporation
PSSC Labs
Sole Technology
SPARTA, Inc.
Turtle Rock Studios
Wet Seal

There are few big companies near the border of Irvine and Lake Forest of Bake PKWy Road and Alton PKWy Road.

Del Taco HQ just sold off
Wet Seal bankrupt

http://www.ocregister.com/articles/levy-653987-company-taco.html

"
Del Taco?s headquarters will remain in Lake Forest. Paul Murphy will continue to run the chain as chief executive."

Ummm, I don't think so:http://www.ocregister.com/lansner/county-667639-south-taco.html

Del Taco, AGN, BRCM... that's what they all say until SHTF.

You don't think so about what exactly? Maybe I'm misunderstanding but the sale of the office park doesn't mean it's moving. Del Taco didn't own the office park before. It was owned by LaSalle Investment Management. Just sold to a different group of investors. What does that have to do with SHTF?

The way Del Taco is mentioned makes it seem like it's a premier company. Lol

 

[aquabliss]

Go check out Del Taco Foothill Ranch store.  Since it's so close to corporate HQ, must be their flagship store. 

What a dump.

 

[seachange]

I'm surprised there are quite a few nationally known companies with headquarters in Lake Forest. Would imagine there are plenty of cities in OC that don't.

 

[Coleman]

Go check out Del Taco Foothill Ranch store.  Since it's so close to corporate HQ, must be their flagship store. 

What a dump.

Haha!  I remember someone who worked at Taco Bell corporate telling me about how they have different stores locally that will have different trial types of food to test within the community.  Too bad this Del Taco wasn't one of the places that had novel types of foods.

Speaking of Del Taco - the founder of Del Taco still serves food to patrons at the store in Barstow (if I recall correctly)  I know someone who had her food delivered to the table by a friendly older gentleman. After talking for a bit, she found out that it was the founder of Del Taco!