Newbie in Seattle looking into Fresno CA market

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Newbie in Seattle looking into Fresno CA market

Rosy Bruno
Seattle, WA · Member since 2017 · 72 posts · 23 votes

Hi Everyone,

I am currently living in West Seattle but am looking to invest in Fresno, CA (that's where I'm originally from so I know the area well). My husband and I own one income property in Norfolk, VA (we're a military family) that sort of came by through luck and I would love to continue this line of work.

My initial goals are to meet up with people who have been in my shoes and learn what to do with all of my drive and initiative. I feel like I have all of this energy with nothing really to focus it on; and this feeling has led me to here!

My main goal is to be able to have more financial freedom and to be able to take care of my parents since they have worked so hard to provide for my brothers and me - I can already see them relaxing in their vacation home in Mexico sipping on margs :D

So I look forward to conversing with everyone and learning from this wonderful community!

Best,

Rosy

2Reply
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Michael S.Pro Member
Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
9y

Welcome to the Biggerpockets community Rosy. Great to have you here 

BiggerPockets
1Reply
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  • Michael S.Pro Member
    Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
    9y

    Welcome to the Biggerpockets community Rosy. Great to have you here 

    BiggerPockets
    1Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    9y

    Welcome to BP @Rosy Bruno It is fantastic that your vision is so clear you can actually picture you parents in Mexico. I think you will find many people here you have something in common with.

    1Reply
  • Antoine Martel
    Investor · Los Angeles, CA · Member since 2016 · 577 posts · 240 votes
    9y
    Rosy, welcome to BiggerPockets. it is great to hear that you have similar goals as me. My goal is to take care of my parents as well and make sure that they are well taken care of when they go into retirement. I currently live in Los Angeles and I grew up in San Francisco. Both of these markets are very difficult to investing, as you may know if you grew up in Fresno. The Fresno market is also being impacted greatly and it is becoming difficult to invest there as well. The margins in the profits are getting slimmer and slimmer. If you're already going to invest out of state I would recommend investing somewhere else where there still is a lot of meat on the bone. I only invest out of state!
    1Reply
  • Rosy Bruno
    OP
    Seattle, WA · Member since 2017 · 72 posts · 23 votes
    9y
    Thank you all for your warm welcome! I am very excited to get started. Antoine Martel I know what you mean about those areas. Fresno is definitely on the up and coming and truthfully I'm surprised it's taken this long considering we are in between two world renowned cities. There has been a lot of city involvement lately, especially with our new major, and city plans look very promising in the downtown area. I'm currently playing the waiting game to see if anything is actually going to come of it. Where do you usually look to invest and why? What are your go to markets?
    0Reply
  • Jay Orlauski
    Realtor · Fresno, CA · Member since 2013 · 471 posts · 225 votes
    9y

    Welcome Rosy - there is a lot of talk going on about downtown Fresno right now and several large projects already under way.  Many believe there is still room for growth as we start creating the infrastructure to make Fresno into a technology hub of the central valley. Fresno is no longer just an agriculture economy -though it is still at the heart of our commerce - we are starting to attract big names like Amazon and Ulta Beauty.  There has been a buying frenzy here as investors have been snapping up everything and rehabbing / repurposing buildings. 

    We discussed earlier today that it has taken a long time to rebuild downtown Fresno because for a long time nobody wanted to be there in that space and now the people in my age group are not interested in being there - but the younger generation doesn't hold the same stigmas and see it as an opportunity  to take advantage of wasted space - this also open ups avenues for housing in downtown because it becomes very walk-able as more of the area is developed. So the downtown area starts looking more and more attractive to investors  - I think there is still some great opportunities for capital appreciation downtown.   

    1Reply
  • Simon Ruiz
    Glendora, CA · Member since 2016 · 106 posts · 21 votes
    9y
    @Rosy Bruno Hi.. have you looked into the Hanford area? My sister works in Coalinga and says this area is booming in development and it's in the outskirts of Fresno I'm considering acquiring an investment property myself out there however, with the distance that I live from the property and pricing, out of state property seems more enticing... good luck
    1Reply
  • Rosy Bruno
    OP
    Seattle, WA · Member since 2017 · 72 posts · 23 votes
    9y
    Simon Ruiz I have not looked in that area. I don't know it very well so I'd be hesitant to "start" there hence why I'm looking at Fresno. But I wouldn't discount it. Let us know if you decide to invest there and why you decided to :D I'm always interested in knowing the Why behind people's decisions. Best of luck!
    0Reply
  • Antoine Martel
    Investor · Los Angeles, CA · Member since 2016 · 577 posts · 240 votes
    9y
    Originally posted by @Rosy Bruno:

    Thank you all for your warm welcome! I am very excited to get started.

    Antoine Martel I know what you mean about those areas. Fresno is definitely on the up and coming and truthfully I'm surprised it's taken this long considering we are in between two world renowned cities. There has been a lot of city involvement lately, especially with our new major, and city plans look very promising in the downtown area. I'm currently playing the waiting game to see if anything is actually going to come of it. Where do you usually look to invest and why? What are your go to markets?

     Playing the waiting game there is fine and is a good idea but i'd recommend finding a market to invest in right now. I invest in cities like Memphis, Cleveland, Jacksonville, Indy.

    1Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    9y
    Originally posted by @Rosy Bruno:

    Hi Everyone,

    I am currently living in West Seattle but am looking to invest in Fresno, CA (that's where I'm originally from so I know the area well). My husband and I own one income property in Norfolk, VA (we're a military family) that sort of came by through luck and I would love to continue this line of work.

    My initial goals are to meet up with people who have been in my shoes and learn what to do with all of my drive and initiative. I feel like I have all of this energy with nothing really to focus it on; and this feeling has led me to here!

    My main goal is to be able to have more financial freedom and to be able to take care of my parents since they have worked so hard to provide for my brothers and me - I can already see them relaxing in their vacation home in Mexico sipping on margs :D

    So I look forward to conversing with everyone and learning from this wonderful community!

    Best,

    Rosy

    Hello and welcome to the BP forums. This is a great place to learn everything you need about REI.

    Try looking at: The Most Common Misconceptions of Investing in Real Estate

    1Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 890 votes
    9y

    @Antoine Martel ?

    1Reply
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