Fresno, CA · Member since 2017 · 18 posts · 6 votes
Hi BP! I'm an aspiring real estate investor in Fresno, CA. I've been learning everything I can on BP, podcasts, and books about real estate investing and I'm ready to make some deals. My background is in the banking industry, now at a credit union. My wife is a highly skilled interior designer. With her background in design and managing contractors, we make a great team for fix and flips and fix and hold investments.
Our long-term investment goals are buy and hold rentals, and I'm interested in learning more about fix and flip, wholetailing, and wholesaling to build capital for future investments. I'd like to start investing here in Fresno or the surrounding towns.
I look forward to contributing to the BP community and making connections!
Fresno, CA · Member since 2009 · 116 posts · 85 votes
7y
Hey @Gary Mendrin, welcome to BP and welcome to the Fresno market. This is a great market to be in.
My wife and I wholesale and flip and closed out a little over 40 deals last year while working in our business part time. We’re now pushing to start adding rental units under our belt in 2019 (20 units is our 2019 goal). So it is definitely possible as long as you stick with it! Consistency in everything is the absolute key in this business.
What @Jeff Zimmerman said about the poor quality of a lot of flipped houses is unfortunately very true. And what’s even more unfortunate is a lot of buyers are willing to pay their prices for garbage properties. It actually doesn’t require much effort to have good quality work done on your properties. I also occasionally work as an agent and there are certain flippers who I will not show their houses to my clients due to that.
If you ever want to connect or have any questions, feel free to reach out anytime!
Real Estate Agent · Fremont, CA · Member since 2018 · 48 posts · 21 votes
8y
@Gary Mendrin Welcome to BP. All the best for your investing venture.
I am a relative newbie to REI from Fremont, CA. Since the Bay Area market is crazy, I am looking to partner with someone probably as an investor in the beginning.
Coming from the software industry, I have pretty good project management skills as well.
Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
8y
Thanks for the Introduction . Your area is good value add area . You and your wife have wonderful professional skills to allow for you goals . Happy to network and assist.
Real Estate Agent · Fresno, CA · Member since 2014 · 367 posts · 174 votes
8y
whats up @Gary Mendrin , good luck man! I think Fresno is a great market to flip in, I show buyers flips all the time that look great in MLS pics, which leads buyers to want to see them. 90% of them are done so cheaply that we walk in and out right away. All you need to do is make something that really feels like home and that doesn't feel like it was done with second class work and materials. So i think you can have a real edge in that business.
once you get a solid reputation in Fresno, realtors will put your properties at the top of the pile when showing, vs the bottom of the pile for most flippers which is what I do right now. I keep a list of all the good flippers oi hear about. I make a point to research every flip i show to see who did it, if they have a great rep i definetly show, if they don't, i discourage the buyer from looking.
Definetly spend some time networking with realtors, it will help you build your rep and will move your property much faster when it's listed.
Fresno, CA · Member since 2017 · 18 posts · 6 votes
8y
@Jeff Zimmerman That's great advice Jeff. Thank you for the encouragement. What might be the best way a new investor like myself should start networking with realtors?
Real Estate Agent · Fresno, CA · Member since 2014 · 367 posts · 174 votes
8y
Hey @Gary Mendrin , great question. If it were a few months ago I'd say head out to a few FAR (Fresno association of realtors) meetings and let them know you have quality flips coming on the market soon, but Since we are starting to tip back into a buyers market that may be less effective now. Do you have someone you have spoken with about listing the homes for you when they are done? That person may be a great place to start as they will know a lot of people in the business. Additionally, I'm happy to meet you in the office and just talk for a few min to find out about your flips and plans. I could also intro you to my manager and other leadership in my office and you can start taking names etc... You could probably do that a lot of offices.
Fresno, CA · Member since 2009 · 116 posts · 85 votes
7y
Hey @Gary Mendrin, welcome to BP and welcome to the Fresno market. This is a great market to be in.
My wife and I wholesale and flip and closed out a little over 40 deals last year while working in our business part time. We’re now pushing to start adding rental units under our belt in 2019 (20 units is our 2019 goal). So it is definitely possible as long as you stick with it! Consistency in everything is the absolute key in this business.
What @Jeff Zimmerman said about the poor quality of a lot of flipped houses is unfortunately very true. And what’s even more unfortunate is a lot of buyers are willing to pay their prices for garbage properties. It actually doesn’t require much effort to have good quality work done on your properties. I also occasionally work as an agent and there are certain flippers who I will not show their houses to my clients due to that.
If you ever want to connect or have any questions, feel free to reach out anytime!