All Forum Posts by: Brooke Wilson

@Anthony Keys - Yes. Check your connections, I tried to contact you. Thanks! 

Hi @Anthony Keys - Welcome to the group! I am in Bakersfield, too, my oldest is at the university. As you learn along the way, you might be in a prime position to look at "house hacking" by buying a multi-unit property, and also having friends rent rooms from you. You'd (likely) make money monthly after paying the mortgage. Starting young is a big advantage. Let me know if I can answer any questions for you. 

As a Kern County Realtor, I guess one caveat I would add is that you might get cash flow here in Bakersfield, but you won't see the kind of appreciation you will down in LA County. We see some BRRRR's purchased at +/- $100k, with ARV at $160k, and a rent of maybe $1200 at that pricepoint/neighborhood. My friend has a couple duplexes in Los Angeles, purchase price $800k without the need for renovations, rents for $3500 per unit. That's less work than managing 6 homes in Bakersfield for the same output in cash, and with better appreciation long term.

I like @Jon Schwartz's approach of 5+ units, and love the idea of tenants paying down a coastal property for you, and the differences between a commercial loan/property and a residential loan/property. 

I agree with @JDee Moore - knowing these pocket neighborhoods of C-, D, and F appear different to an outside investor. 

@Nick Reinhardt - it doesn't seem like a lot of work for 6 weeks worth of time. Is that a DIY timetable? Can you shorten that time and get tenants in sooner?

@Brandon Carlson - Bakersfield is the biggest of cities, with new distribution centers coming in, new construction happening. It's big enough here, too, to have a wide variety to choose from. 

I live in Bakersfield, my friend was recently looking to move to Imperial. I was helping her look, and I was shocked at how little was available to purchase. Part of the restriction was concern over the school district, as she has 2 kids, but also the lack of new housing available due to the high cost to builders for city fees, water, etc. It was eye opening. We definitely are experiencing fewer properties on the market in Bakersfield due to COVID, but still lots to choose from. 

@Antonio A. -50k won't get you far in LA, but you can do better with it in Bakersfield where I am, for sure. Do you know what you'd like to get into? Flips? Long term holds? Multi family or SFR?

@Dana Boyd - Bakersfield is a good market, with some new development happening. Amazon distribution has moved in, as has lots of other distribution. It's an affordable market to get started in, for sure.

Good morning, Bobby I am in Bakersfield, it's a great market. Have you been pre-approved, and do you know what kind of investment you are looking for? 

One thing about LA though, versus my market, Bakersfield, is that you are more likely to see better appreciation vs cash flow. Here we mostly have to buy for cash flow.