Rent Market in Ontario CA

[Julio Contreras]

Hello BP!

Today I have turned in my paper to a lender to see how much I qualify for buying a house. I live in Los Angeles Area but planning to buy a house in Ontario. I want to house hack it buy making a studio in the back and renting it. My main concern is if it will rent...

I noticed that rent has been going up steady and I have searched rent prices in Ontario but my biggest fear is that I will not find no one to rent the studio. Anyone has run into this or have been in my shoes before?

Any help will be much appreciated!

[Manolo D.]

Julio Contreras To me it's not about location (in LA), it's about how much it will take you to build, and at what price you buy in the first place. I don't believe in appreciation nor drip (rental) income. LA is not for house hacking for sure. Most of LA hitters have a couple of million sitting in the bank just waiting for an average deal where they'll make 100k per million per year. I've terminated my residential wing of the business, the only thing that makes sense to me when it comes to residential is an in-fill project or a row-house development, I'll pass on all remodels, no money there.