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Updated over 9 years ago on . Most recent reply

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89
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13
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Christopher Abernathy
  • Solarcity FEC
  • Torrance, CA
13
Votes |
89
Posts

Should I FHA 203k & househack in palmdale/lancaster in this current market?

Christopher Abernathy
  • Solarcity FEC
  • Torrance, CA
Posted

beginner here who wants to buy first property on live in flip holding for 2yr (tax benefits). 

Then duplex out and begin to rent other side and or both moving on. Does anyone work in or around the Palmdale / lancaster CA markets and what are some of the drawbacks of these 150k  3000/Sq ft. CA homes that are only 2 hrs away from water front?

i feel like this might be an easier market to begin in as CA prime real estate is Scarce. 

any comments help.. thx BP members

Most Popular Reply

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249
Posts
73
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Zaid R.
  • Investor
  • Northridge, CA
73
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249
Posts
Zaid R.
  • Investor
  • Northridge, CA
Replied

Lancaster/Palmdale has areas that could offer you a good return for rentals - keep in mind that the area has a different lifestyle of living -  more of a family/commuter town than a hip/cool place to live.

West Lancaster (west of the 14) is great for families but wont offer you the cool returns east lancaster will.  And there's far east lancaster (further east than 60th east)  that has pockets that are viewed as less desirable/secluded territories  (close to Lake Los Angeles)

 To each his own of course,  just do your research before you lock yourself in for two years.  'live where you like to live,  invest where it makes sense' 

 A 3000 sq ft rental is huge,  most pros I know shoot for rentals between 1000 and 1600 sq ft,  easier to maintain and less people and things to manage. 

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