Online Rental Information

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newportnaturalmom_IHB

New member
Hello Everyone,





I am new to writing, but not to reading on this blog. My husband and I currently rent a town home in Newport Coast and are expecting our first child this fall. We have already decided to sit back and wait for the market to become more realistic for ownership, plus want to live in this area and are not looking to buy a starter home. We are willing to wait and earn our first home (we're only 24), not just take out crazy loans because we feel entitled to it. Anyways, we are starting to think about purchasing some rental houses (not flips) and would like to know if anyone has some websites that provide any of the following info: average rent rates and vacancy rates per region. Thank you for any help, again we are not flippers, my husband lives by the purchase and hold mentality.
 
<p>Wow, 24 and looking to buy a non-starter home in Newport Coast in a few years? And rental homes for investments on top of that? If your husband's (or your) company is hiring, let me know, I would like to also have a job that enables me to do that!</p>

<p>Sorry, no input on your question but looking through places like craigslist.org should give you some good ideas on what the going rent rates are in a given area.</p>
 
<p>newportnaturalmom,</p>

<p>The best zip code to buy rental homes I have to say is 92602. Rental rate is $1.6-$1.9/sq. ft (larger homes, lower rent rate/sq. ft.). Zip 92602 has roughly 5,000 homes and there are only 8 on the market for lease (per MLS data). Average days to lease is about 2 weeks; now that is a very hot rental market for landlords.</p>
 
<p><em>"Average days to lease is about 2 weeks; now that is a very hot rental market for landlords."</em></p>

<p>NIR-</p>

<p>Do you think that could change when the Orchard Hills apts open?</p>

<p>SCHB</p>
 
<p>SCHB,</p>

<p>I do not expect any changes when OH apts open. The two products are very different, as certain people will not rent apartments.</p>
 
The real impact to the house rental market will come when the floplords begin listing after the failed selling season. They are out there.
 
<p>IrvineRenter is right on as usual. We have yet to see what the impact of the mortgage job losses will have on the housing market. I know of a few that should just mail in the keys but they have decided to just live there "rent" free until they are forced out. I also know of quite a few in the mortgage biz who bought in newport coast like Daniel Sadek. Search the OC Register if you are not familar with the name. I am having dinner with a friend tomorrow who would normally treat to Flemings but is willing to make me dinner from his budgeted grocery supply. How things have changed in the lending business.</p>

<p>newportnaturalmom,</p>

<p>As for vacancy rates you will have difficulty finding any info other than opinions. If you want investment properties read <a href="http://www.johntreed.com/positive.html">http://www.johntreed.com/positive.html</a> about positive cashflow. He is a bit conservative even for me but if you stray too far you will get burned. He debunks Kiyosaki but even he has the right idea with positive cashflow. The worst thing you could possibly do is buy a depreciating property with negative cashflow. nirvinerealtor is probably right that the rental market in 92602 is hot but even she said that I was right when it came to finding a cashflow positive property. Many of the people who bought multi-units in the last five years were depending on appreciation and real investors laughed knowing they will buy those properties in the next five years or so for deep discounts. Don't worry the real desperation hasn't started yet. </p>
 
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