San Bernardino, CA multi-family investing
Hello BP,
I was wondering if anyone knows or has done any type of RE investment in San Bernardino, CA. I'm on the process of moving on to Multi-family from SFH and San Bernardino caught my attention. I've done some study about this area and it looks good with cash flow compare to the other cities in LA county. However, renters market is my main concern. Will it be hard to find renters? What if I can't find any tenant with an average credit score? What is your average vacancy rate? One of the management companies in this area told me that their average vacancy rate is 8%, but I just wanted to make sure before I move on. Any help would be appreciated.
Most Popular Reply
I am starting to work again in SB area. It has been very good for me and my investors. Very low vacancy rate, average rents goes for 1200 to 1500 for 2 to 3 bedrooms depending on the area. Multi family properties hard to get. Very competitive !
My partner does property management And business is great. Rentals are in high demand. Problem tenants are always there but we don’t have too much trouble. Have helped a group of investors buy 140 homes for fix n hold and are very happy with SB. Fix n flip is highly competitive but deals come up for aggressive investors. All in all I highly recommend SB.
Best of luck