Investing in MF in Fresno, CA Area

[Andy C.]

Hi BP, Im wondering if any of those in BP have any experience living and or investing in the Fresno, CA area. How's the area generally doing. Is there redevelopment going on? And are there areas you'd recommend? It's a market close to SF Bay Area, and a market that id be interested in multifamily standpoint. And looking to learn more. Also, if there any real estate agents that work directly with multifamily properties I'd love to connect. Andy

[Ryan Scott Isacksen]

@Andy C.

I think the Fresno market has a lot of potential.
I did a lot of research in the area.  I think the city is making a lot of good, professional decisions for the overall health of the city.

They are one of the few places that have pre-paid their employee pension funds (they have a positive, not negative). 

They are changing the zoning in West Fresno to encourage office and residential.  They also have developments going in to target some neglected areas to spur growth.

I don't have deep enough pockets to get into something significant in that market.  The buildings I have seen are at prices that barely cover actual capital expenditure needs after debt service.