4 California Communities That are Ripe for Rental Property Investors
California has been seeing a larger growth in its smaller communities and neighborhoods over the last ten years. If you’ve been interested in investing in rental property or homes in the state, but have been scared off due to the reputation it has for high prices, do not fret any longer (as there many new amazing, value-priced locations that are accessible to investors). If you’re looking for passive income, or a sizable increase to your bank account alongside your normal professional work, rental property investment is sure to be a dream. To get you started, here are four amazing California communities that are ripe for rental property investors:
Median Home Price: $391,000
Home Price Change Over the Last Year: 0.2%
One of the most pristinely natural neighborhood communities on the list, Big Bear Lake lives up to its awesome name. The nearby lake vistas and environmentally friendly community will attract a ton of younger and middle-aged middle-class folk, making this a location that’s especially ripe for rental property investors. With those looking to invest in Air BnBs and other rental property targeted at tourists, Big Bear Lake can provide a sure bet, so seriously consider investing in this unforgettable location in the upcoming year (before this secretly promising territory gets swarmed by other investors looking to turn a profit). The slowly increasing value of the property is worthy to note, but the cheaper investment capital needed and more accessible nature of the property helps to counterbalance this one drawback.
Median Home Price: $570,100
Home Price Change Last Year: 2.8%
Located among a beautiful hilly location, Calistoga has the charm and cultural appeal needed for people to swarm the neighborhood in the coming years. The fact that the middle-class lifestyle meets with affordability makes it not only an excellent place for homeowners, but for those looking to gain passive income property as well. Especially if you’re looking to invest in multiple rental properties, Calistoga is a fantastic choice to expand an already existing rental property portfolio. The surge in property in California over the last two years shows no signs of stopping, so get in on the ground floor now to see massive profits in your future.
Median Home Price: $229,500
Home Price Change Last Year: 16.1%
If you’re looking for a budget community that’s not only seeing a huge increase in property value each year but can be invested in without immense capital, Williams is an ideal choice for you to add to your portfolio. Both home and property investors will see massive ROI from their investments in this charming, middle-class community There is an up-and-coming cultural scene in the neighborhood’s community that will prove appealing to many investors as well. For those looking to provide a place for their family to live while making passive income, and who are relying on loans to begin their investment journey, this is a stellar choice.
Median Home Price: $522,900
Home Price Change Last Year: 3.7%
Buellton has been a charming, mid-sized neighborhood in California that’s been growing at a steady rate, and which is perfect for those raising families on a budget. That’s right, there are plenty of affordable homes in California, and places to live, despite what some people might have you think. The combination of it being a strong location for the middle-class, but still, a bustling neighborhood makes it an excellent place to invest in rental properties as well, so keep Buellton in mind as you make your final choice.
With the amazing amounts of passive income you can gain from rental property investments, it’s one of the most accessible areas available for those just entering into the real estate game. California, despite having a wide reputation for being too expensive for many investors, is actually home to many communities and neighborhoods that are affordable for both seasoned real estate investors looking to expand their portfolios and those who have never before made an investment in real estate.
With two mid-price range properties, and two more value-priced range properties to consider, you’ll have the first nudge you need to start living off of passive income. For those raising families, who want to be highly involved in their children’s lives as they grow up, this can be one of the most ideal, consistent ways to make money (and provide a solid investment in your children’s futures as well).