Fresno and Bakersfield Markets
Anyone engaged with REI in the central valley? I'm hearing about more and more activity in this region and would like opinions from BP members who regularly invest there. From what I understand, investors are flooding the area, driving prices up and inventory down. Is this congruent with anyone's view? If my due diligence checks out, I'll probably move in to the market within the next month or so.
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#1 Marketing Your Property Contributor
- Flipper/Rehabber
- Bakersfield, CA
bakersfield and Fresno are great markets. A few years back Helen Keller could have bought and sold for profit. Today's market requires a little more skill set.
The only obstical in the area is that there are too many at value buyers. And our cab costs are low enough and cash reserves are high enough that the new breed of investor has a false sense of security.
Some days it feels like investors are buying because they're bored and not because they're making reasonable decisions.
All this said it is still a great market.