I have been looking to invest in the Bakersfield / Denver Area. Would love to hear about your experience, if this is still a good time to buy? If yes, which areas do you recommend? How is the rental scene there? Please let me know. Looking forward to hearing from you.
@Harkrishan Sahi I can't speak for Bakersfield, but I can speak for Denver metro area, and things are extremely hot here with properties going 10-20-50k over asking price for typical 400-500k single family home investment properties.
If you are looking for a cash flowing market, Denver is no longer that. What are your goals? Investment property that is a single-family? Multifamily? Condos/Townhomes? What is your budget?
I'm in Bakersfield, and have several properties here. Its pretty hard to find a property to buy that cash flows. Inventory is flying off the market at prices not seen since the crash. You probably can make money, but it would be hard work in some rough areas that I don't want to invest in, and even there prices are pretty high.
Glad to hear that you are looking into properties in the Bakersfield area. I would say that this is a good time to purchase, however, there have to be goals around your purchase.
As far as investment, Bakersfield is growing and the push into the future for these logistics chains is only going to grow, and Bakersfield is perfectly positioned to take care of that and increase volume which we have been steadily doing for the past few years.
Those people who are saying to purchase property that doesn't cash flow, I personally wouldn't listen to in the Bakersfield market specifically. If you are looking for cash flowing property, there are still very many of them, you just have to be willing to look and be patient.
Good luck on your investing journey! Feel free to PM me if you would like!