Buying REO property in Riverside County as Investment Property.

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Published: Monday, November 10, 2008

The number of foreclosures in Riverside County has been on the rise for the past year, investors are taking this opportunity to purchase these properties as investments. Riverside County experienced a much growth in cities like Temecula, Murrieta, Hemet and Moreno Valley. Major builders like Khovnanian and Centex enticed buyers out of the wood works offering homes that could only be described as mini mansions. As the people flocked to these new communities the once affordable prices reached highs upwards of $500,000.

When the bubble finally burst, many builders were left with vacant lots and even more banks found themselves acquiring lots and lots of foreclosures. With no other options the banks began selling these assets at discounted prices. This move triggered the cost of homes to fall across the board. Many new home owners found their property upside down; owing more than the property was actually worth.

Smart investors saw an excellent opportunity to capitalize on foreclosed homes in Riverside County. Many found themselves purchasing homes 40-50% below their previous market value. And because cities like Temecula and Murrieta were still desirable, investors didn't have a problem keeping the units rented.

In addition to the cash flow most were able to create, investors also enjoyed tax incentives.

Why Riverside County? There are numerous industries in Riverside that are flourishing. The county houses a large military base, and is located outside of San Diego, military town, with a naval base, and three marine bases in the county. The need for rental housing ensures that your property will remain rented.

If you are interested in learning more about the tax benefits that come when purchasing investment property in Riverside County contact Community One at 877-226-4800. Or take a moment to browse through our inventory of REO property in Riverside County.

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