El Mirage Investments Part 2

When buying El Mirage homes, it's best for an investor have short and long term plans. There is nothing worst then buying El Mirage homes today and then within 20 years the neighborhood becomes a crime area driving property value down. Here in the Victor Valley area we have already exerienced that problem. Some investors only look at the short term. Tom's solution is to look long term as well. You should buy in an area where the El Mirage homes today make good rentals, but sometime in the future these El Mirage homes will be replace with larger more expensive El Mirage homes. Choosing the right property is the key.

Based on Tom's rental investment plans, 1) Today rents should be $1,100-$1,200... 2) El Mirage Homes should be located where the future will promote more expensive homes driving the property values up. 3) The investor can purchase an existing El Mirage homes or a new homes as a rental today. 4) The investor can manage the El Mirage homes or use a Property Management Company.

In 2003 nice homes were available as rentals in the price range $130K-$160K. Today these same type of El Mirage homes are selling for $210k-$250k. The good news is homes are appreciating. The bad news is it's now harder to have a positive cash flow on El Mirage rental homes.

Investors have to consider the trade-off of negative cash flow today and how fast homes will appreciate.

For Example: Tom bought a home in July for $145K. Today, in same area homes sells for about $290K (36 months later). In Tom's opinion it's a good time to buy because it's a growing area. Each investor has to make their own decision based their own opinion. Goods investors must have adequate financing, foresight and they are willing to take the risk.

For an area to have constant growth without major ups and downs, there must be a driving economic force. In the Victor Valley, we have the SCLA Southern California Logistics Airport (the former George Air Force Base). This base is being converted into the largest Air/Rail freight distribution center in Southern California. This airport now has the longest runway in the country, a new 850 megawatt Power Plant, rail service is in process and companies are starting to do business here.

Tom is a Real Estate Consultant, not a salesperson. Tom does not sell anyting. Tom finds investors homes and information to justify the investment for the investor. It's up to the investor to review the information and make their own decision. Choosing the right Realtor® makes all the difference.

  FREE Search for Homes on our website, which lets you search for El Mirage Homes sale in the surrounding area. If you find something you like, give Tom a call. Tom needs the Listing Number to give you more information. Tom wants to dedicate his time for you but is busy with clients, projects, property reviews & attending local community meetings. So, please make an appointment before visiting our office. Click for the Map to our Office Click California Highway Road Conditions