Property investors looking to purchase in Southern California should consider buying rental units in Palmdale and Lancaster.
Commercial and residential realtor Peter Silvester of Keller Williams Realty says positive cash flow is one of the most apparent benefits.
"Houses in Palmdale, Lancaser, Victorville are still priced lower than the cost of new construction," he told me during an interview. "Rents pay for the house in no time and pay for mortgage you would have even with zero money down."
The Antelope Valley is about a one-hour drive from the San Fernando Valley so a hands-on owner should plan to visit during off-rush times and create an online system for paying rent or hire a property management company.
Peter says the region has a strong rental market.
The area is home to 475,000 residents and housing prices are 30 percent to one-half less than many other markets according to the Greater Antelope Valley Economic Alliance.
The Alliance also states the cost of doing business in the region is much less than Long Beach, Phoenix, Arizona, and Austin, Texas.
The Alliance website states, "Our region is unique to California in that it offers a business friendly climate through the cooperation of our residents, cities, and elected officials."
Lancaster Mayor R. Rex Parris has visited China five times and hopes to woo Chinese companies to his Antelope Valley city. He says his goal is to attract investment, which translates to jobs, and could reduce commutes of Lancaster residents into L.A.
The result could ultimately be stronger rental prices and make the area even more attractive for investors.
Learn more at Peter Silvester's website.
For specific economic reports log on to the Greater Antelope Valley Economic Alliance.