Santa Cruz, CA · Member since 2014 · 9 posts · 3 votes
Hi everyone. I am newbie, just starting out in Bakersfield CA.
I would love to hear from more experienced investors and their thoughts about the current status of Bakersfield market for buy&hold strategy for generating passive income.
Currently, I am interested in 70K-100K range, single family or condo/apartments. Still trying to learn more about foreclosures but I prefer regular transactions and ready to move in houses since I am a newbie.
Also, team building appears to be tough. So, I would love to hear your suggestions to pick a broker, RE attorney, Accountant, realtor and property management company in Bakersfield CA.
thanks so much!
Tom
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 80 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.
To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Flipper/Rehabber · Lake Isabella, CA · Member since 2011 · 969 posts · 488 votes
12y
Welcome Tom!
I am an active investor but I mostly invest in the Kern River Valley (Lake Isabella, Kernville area) about 45 minutes east of Bakersfield. I am currently holding rentals for the mid term. Most were fixers when I bought them. I plan on holding them as rentals until the data shows its time to sell.
Make sure to do search the message board for the term "Bakersfield", there have been a lot of posts over the past few months that could be of value to you.