You’d have to live completely off the grid to not know that Inglewood is the new home to both the Rams and the Chargers. That’s one of the reasons the Inglewood real estate market has become so hot.
It’s always wise to follow what the “experts” do – I say experts but what I really mean is anyone who has the money to fund studies to back up their opinions and predictions.
One of these experts, Universe Holdings located in downtown Los Angeles has just acquired their ninth acquisition in the past four years. They believed in the Inglewood real estate market two years before Rams owner, Stan Kroeke made his intention clear to make Inglewood their new home city.
Here are some of the reasons Universe, among others, believe in Inglewood. It’s 5 minutes from Hollywood Park as well as the new NFL stadium. It’s an easy commute to LAX, Centinela Hospital and the growing tech industry in Silicon Beach. Silicon Beach is considered the stretch roughly between El Segundo and Santa Monica. There are over 500 tech companies located in that area alone.
If Inglewood isn’t a convenient location for you to live, think about buying rental property there.
Another location with good upside is the Beach Boys’ hometown of Hawthorne, now home to Elon Musk’s SpaceX. It’s considered one of the best cities in California to own rental property as about 75% of the residents of Hawthorne are renters. Median rents are about $3,000 – yup, that high for Hawthorne.
East Los Angeles
East Los Angeles is also emerging as one of the top cities to own investment real estate in 2019. Renters mostly work in the city’s main industry of manufacturing. Although they tend to have lower wages on average, the median household income has grown over 15% in the past few years. Rental income yields can be good here.
Rents all over Los Angeles are out of control. This may be the perfect time to buy rental property. You can start with a single-family home or a small rental complex. If it’s no more than 4 units, the rental programs are exceptional. Anything over 4 units would be a completely different type of loan. Nothing wrong with that, but if you haven’t owned rental property before, start with something easy.