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Author
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Topic: Rental Property in Stockton
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GOT 50
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Member # 1960
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posted
 
 
I am debating buying a 3bedroom 2 bath house in stockton to use as a rental property. With all fees ect I would need about 700 month to cover mortgage property taxes and insurance. Rentals on 3-2's are around the 1250-1450 range. Just to insure I get a renter I would be willing to rent the place for a 1000 a month plus utilities.
My question: Is there actually high enough demand in stcokton right now for rental properties that I wont be paying for the house to be vacant for a year plus?
Thanks for any insight.
Eric
Posts: 2139 | From: SF/DALY CITY/MILLBRAE | Registered: Oct 2002
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N8
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Member # 6048
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posted
YES Definitely, depends on the area actually. I have 2 rental properties there as well. One in the Brookside area and another in the Lincoln area. Are you going through a property manager? If so I can recommend a good one that is handling my properties.
Posts: 11638 | Registered: Sep 2005
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GOT 50
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Member # 1960
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posted
PM Sent
Posts: 2139 | From: SF/DALY CITY/MILLBRAE | Registered: Oct 2002
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MUSTTANGUY
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Member # 2251
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posted
Definitely
As N8 said, location, location, location
North Stockton is about the only area I would consider, if you have an area in mind between N8 and I we should be able to give you some insight as to the area.
I am at North edge of town, very quiet, great neighborhood.
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Tim (Musttanguy)
97 5.0 coupe
82 GT 427/T56/9"
Posts: 1690 | From: Lodi | Registered: Dec 2002
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N8
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Member # 6048
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posted
quote:
Originally posted by GOT 50:
I was thinking something like this
http://www.trulia.com/property/3030469709-1722-Benedino-Cir-Stockton-CA-95206
Recently built. So hopefully maintenance will be at a minimum.
Rent it out for about 1400.
Total payment should be in around the 750 range.
Leaves about 650 towards teh next property.
Thanks
Eric
That is a the area I call "The Oasis" that is South Stockton. I would not really buy in that area. Go visit the area and you will see why I call it that...lol.
Tim I love the area you live in. If you remember I lived somewhat over there too, but a lil on the rougher side...lol. I agree try to stay norther Stockton. Listen for these buzz words Lincoln, Brookside, Morada....
Posts: 11638 | Registered: Sep 2005
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N8
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Member # 6048
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posted
quote:
Originally posted by GOT 50:
so something more like this
http://www.trulia.com/property/3033832826-9225-Decatur-Dr-Stockton-CA-95209
What do you guys see in typical cashflow per month. Also what about typical expense?
Actually man that is by a street called Plantation, which is a HIGH crime area. You want to look at houses a lil further down Wagner Heights and on the opposite side. Its crazy how stockton has these cool houses ducked behind hood areas...lol.
I do not make a ton off my houses to be honest. But they are solid revenue. But I am not trying to be a real estate mogul either. If you really wanna make some money try to buy some land out there. But with that being said. Things could go all bad if you get bad tennants in there.
Posts: 11638 | Registered: Sep 2005
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GOT 50
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Member # 1960
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posted
N8,
Revenue, apprciation, and long term equity is what I am looking for. I am in no need to flip houses.
I figure if I can get 4-5 rentals I could start making some serious cash flow.
Posts: 2139 | From: SF/DALY CITY/MILLBRAE | Registered: Oct 2002
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N8
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Member # 6048
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posted
quote:
Originally posted by GOT 50:
N8,
Revenue, apprciation, and long term equity is what I am looking for. I am in no need to flip houses.
I figure if I can get 4-5 rentals I could start making some serious cash flow.
Oh ok, I got you. Well I had a spot in the hood once. And the house was beautiful, but it turned off people to know they had to drive through that to get to the house. And that the element was so close. But with that being said. I accepted section 8 on that spot, so I always had tennants. But if you decide to go section 8 in stockton please hit me up. I have lots of horror stories and advice for you there.
But outside that, your numbers you crunched seem viable and yes you will make money. Not much in equity at this point. And that area will not appreciate much. But in terms of more incoming than going out. You should be fine.
Posts: 11638 | Registered: Sep 2005
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ZincYellow 281
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Member # 9865
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My family owns several rental properties, they started buying homes when I was only 2yrs old and Im 20yrs old now. It does make money! but, there are many factors that come into play like getting good renters. Over the Years we have had the best and the worst, so use your best judgement and look out for red flags. Location is key so take your time and seriously think everthing out. There might be a month when you wont have renters and then you will have to pay out of your own pocket, in addition to whatever else to have to pay.
It would be ideal to manage your own property, but if you cant then its alright. We have managers only on the property closer to the bay area everything else we manage on our own.
Posts: 691 | From: Elk Grove | Registered: Mar 2010
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ZincYellow 281
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Member # 9865
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n8 bascily hit the nail on the head with this topic, like he said you can also buy land, We have owned a 200+acer farm for about four years now It make some serious cash, I would also recomend doing that. Its alot of hard work with whatever you decide on doing so I wish you the best of luck! if you have any questions feel free to ask or pm me.
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2015 focus st2
2011 Gt 5.0
04 ZY fobra sold
Posts: 691 | From: Elk Grove | Registered: Mar 2010
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AL STOCK
Its All Stock
Cuzzon
Member # 1852
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posted
quote:
Originally posted by GOT 50:
N8,
Revenue, apprciation, and long term equity is what I am looking for. I am in no need to flip houses.
I figure if I can get 4-5 rentals I could start making some serious cash flow.
Goodjob Eric! You are making the right decisions and this will all pay off ![[patriot]](graemlins/patriot.gif)
BTW hows your first home doing?
Goodluck and keep going bro
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.:: FANATICS ::.
93 Cobra Teal
93 Cobra V Red
90 SSP
SVT Raptor
Huracan Rosso Mars
E63s W213 Selenite Gray
C7Z M7 Daytona Sunrise
Posts: 6498 | From: San Bruno | Registered: Sep 2002
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N8
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Member # 6048
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posted
quote:
Originally posted by ZincYellowGt281:
n8 bascily hit the nail on the head with this topic, like he said you can also buy land, We have owned a 200+acer farm for about four years now It make some serious cash, I would also recomend doing that. Its alot of hard work with whatever you decide on doing so I wish you the best of luck! if you have any questions feel free to ask or pm me.
Just to add if you are looking at land you can get a pretty good parcel for real cheap in Texas. I have a nice lil lot in Midland Texas. If interested let me know.
Posts: 11638 | Registered: Sep 2005
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GOT 50
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Member # 1960
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posted
quote:
Originally posted by AL STOCK:
quote:
Originally posted by GOT 50:
N8,
Revenue, apprciation, and long term equity is what I am looking for. I am in no need to flip houses.
I figure if I can get 4-5 rentals I could start making some serious cash flow.
Goodjob Eric! You are making the right decisions and this will all pay off
BTW hows your first home doing?
Goodluck and keep going bro
Not underwater so I cant complain about my San Mateo House.
Thanks for all the insight.
I amke a decent living and have finally decided its time for my money to make me money instead of wasting it all on toys. Take a ten year reprieve, get a nice little but of cash flow going and then start buying some real nice toys!
Posts: 2139 | From: SF/DALY CITY/MILLBRAE | Registered: Oct 2002
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