What are the best areas in Southern California that are good investment properties for BRRRR deals? In my research I've seen that Anaheim, Whittier, Riverside, Kern County, Yucca Valley, Palm Springs and San Bernardino are good areas. Is that accurate or where would you suggest the best places are to buy for rentals?
You're right, in YV it's definitely better for BRRRR. The other cities you cited could be good if you found a good enough deal but I think they're too expensive for it to be worth it. Not familiar with Kern County though. Feel free to message me with any questions :)
Add Joshua tree too. Hope this helps.
@Krystle Padilla , thank you! I'd love to chat with you further. I'll message you to connect.
@Jo-Ann Lapin , thank you! I never thought of Joshua Tree, but I will absolutely look into it.
@Nathan Diones , thank you! Good to know about Riverside and San Bernardino. I've heard a lot about Yucca Valley and multifamily properties are somewhere where I'd like to start.
@Adriane Gasperetti Since you'll be venturing out towards Yucca Valley and Joshua Tree, I would also take a look at Twentynine Palms. There's a huge marine base there and could show promise for real estate investors there.
For sure, also Air BNB is allowed there too. There is a Air force base in Twenty nine palms.
@Adriane Gasperetti it would depend on your budget and the type of property you are looking for. I️ would recommend Bakersfield, CA because you can buy a pretty dilapidated property and put a little work into it and collect a pretty strong rent then refinance.
For example, we are currently helping a client work on a property that we purchased for $132k and are going to put about $5k into. It will rent for around $1300 and the sold comps in the area are around $160k.
Would anyone have suggestions for neighborhoods in northern california? (SF resident hear)