Looking into Bakersfield CA properties, any locals
Hello new to bigger pockets. Looking to purchase in within the next 3 months in the city of Bakersfield CA. Up to 600k purchase price. Will self manage property. Wondering if anybody if from the city and tips in area of city in Where to beware. I've been to Oildale and seen how many don't like "outsiders " there. I'm Mexican but I'm not afraid of investing in that neighborhood if the deal makes sense and the numbers add up. I've seen some deals in there that catch my attention and wondering if anybody here has very good reasons why not to invest there. I know there is many other areas in the city that can be better but if I get a very good return on my money in a deal there I am open to it. Let me know thanks
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I personally will only invest in an area where I feel safe going alone at night and my wife feels safe going alone during the day. Some areas of oildale do not meet this standard for me. Most of the cheaper areas of Bakersfield are pretty rough.
Properties in the lower cost areas may look better on paper but once you factor in vacancy, true turn over costs, and cap ex, things don't look as good.
I have been in a few nice multi-family properties in oildale but most are pretty rough and have major issues with deferred maintenance.
That said, the fundamentals are pretty solid in Bakersfield and Kern county. You can actually still get cash-flow and the area is growing.