Posted by Mike on March 05, 2002 at 14:43:16:
Have you tried doing searches on the internet for investor clube or groups in your area? NAREI.com I think is the website for the National real estate investors group.
RE Investors in California - Thousand Oaks Area - Posted by Dave
Posted by Dave on March 05, 2002 at 14:14:02:
Just wondering if there are any RE investors in the Eastern Ventura County Area (Thousand Oaks City). The property picking is vey slim and highly appreciated. It would be nice to talk/coorespond to some people about strategies for this area (such as new developments, townhouses, older SFR, rental rates, etc.
Have 1 SFR rental in Thousand Oaks now plus my primary SFR. I am constantly looking for property that stands on its own feet. Typical SFR rental is about $1600-$1700 and costs $300K FMV leaving big negative cash flow. Even at substantial discount like -25% which is next to impossible is still basically negative. Not interested in anything to agressive (like Subject To and Assignees Flips, etc). Just a buy, fixup and hold type of guy. I would consider things like Lease Option to get higher caliber renter/buyer and ratios.
I’m also agressively looking for a new larger primary residence in the area (5+3, > 2750 sq. ft) with RV but can’t find a thing for less than $700K. My budget is in the ~$500K Anyone ever built a home in the area? Anyone have costs per sq. foot. A friend is doing an extensive, high end remodel (just a shell of a few walls original) in Orange county and he is paying about $200 per square foot complete.
Anyone out there in Thousand Oaks, CA?
Re: RE Investors in Ca - Thousand Oaks Area - Posted by Kristine-CA
Posted by Kristine-CA on March 05, 2002 at 15:37:07:
Hi. I live in Santa Barbara, and I tried what I knew to find deals in Ventura county (Ventura, Ojai, Fillmore, Santa Paula.) I am looking for a house in Ojai and I haven’t found a deal yet. But that doesn’t mean they aren’t out there.
So, I work in Kern county, which is a long drive but there are all kinds of different options for REI. And so far I’ve only bought and re-sold some vacant property and I am just completing a flip where I assigned my purchase contract.
In SB, it’s about $200-300 per square foot for the kind of new quality construction that sells. I think if planned right, it’s possible to do something at about around $150 where you are.
The only solution I’ve come up with for myself is to make more money, a lot more, because there are no homes in SB under $400K.
I hope you hear from other people in your area. I think Ventura county is fantastic and sure wish I wasn’t driving to the central valley every weekend.
Good luck. Sincerely, Kristine