I'm currently invested in Bakersfield. Considering investing into Fresno as well if the money is right. I'm looking online at some 5-unit properties available, it appears that they should cash flow ok based on the info available.
Anything I should look out for in Fresno area? They are located just below the 180/168 interchange.
I'm quite early in my search. Currently all i've done is just look at online listings, I haven't reached out to any realtors or property management out there yet.
Have you run the numbers on the properties you've seen?
I don't want to hear, "it appears that they should cash flow ok". That's wishy-washy.
I want to hear, "I ran the numbers through the BP Calculator and narrowed down to the ones that merit further investigation. I'm going to call those agents to get more information, and run that additional data through the Calculator."
Have you run the numbers on the properties you've seen?
I don't want to hear, "it appears that they should cash flow ok". That's wishy-washy.
I want to hear, "I ran the numbers through the BP Calculator and narrowed down to the ones that merit further investigation. I'm going to call those agents to get more information, and run that additional data through the Calculator."
Hi Jeff! I’m a realtor here in the area and I’d love to help get you information you need to run the numbers. With all property prices going up right now, it is becoming rarer and rarer to hit the 1% rule for multi’s. There’s still some deals definitely but they get snatched up quick so you would need to be prepared as soon as they pop up.
The intersections of all those freeways are majority C-class and lower income. Rents can be roughly $650-800 for multiplex rents. Westside (west of 99) is quieter, more spread out, lower income. There can be some fair purchases in the area you're looking for but the vacancy rate can be high so include at least a 11% vacancy. During this pandemic time, it can go to 16%. I'm in Socal like you and Fresno can be a good place to invest.
Himanshu Singh: Run the numbers. Research the rent, plug into BP or other free calculators and see what you get. Being conservatives with vacancy, repairs is always prudent. Do the homework.