All Forum Posts by: Jeff Zimmerman

@Brendan S. good luck!  The first deal is always the hardest.  Fresno has been good to me in my investing journey, I'm fortunate enough to live here and I subscribe to the notion to be close to my investments, especially when I started out so it's all worked out.  We do have quite a few Bay Area investors that we work with in our office, they like that the drive is only 3 hours to check on their investments.  If you are curious about the area feel free to message me, I'm always happy to share anything that's helpful.  

Congrats Raj, I bought a value add 4 plex for my first real investment and learned a lot just by doing, I get your apprehension as I was there too, I even lost money on it for a bit when I first bought it, mostly because I didn't know what I was doing but I figured it out and put quite a bit of cash in my pocket after I figured it out.  So just jumping in is the best teacher in my opinion.  

As far as places to look, smaller towns are off the radar of bigger investors and can usually yield better cap rates and prices per door as well as neighborhoods that often get overlooked in bigger cities.  In the Fresno area the smaller towns to look into are Dinuba, Orosi, Reedley etc...  Areas that are often overlooked in Fresno are areas in Central and Southeast (I'm in escrow on a central property right now).  

Good luck man!  

What's up Ryan, welcome to BP and the world of Investing! Fresno has always been good to me as an RE investor.  Feel free to message me if you'd ever like to grab a coffee and talk Fresno RE! 

@Alex

@Alexandru Guna good luck with your future investments!  I hope they go really great for you!

@Alexandru Guna welcome to RE investing!  Getting started is by far the toughest part.  Fresno has always been good to me when it comes to cash flow, like everywhere else, deals don't grow on trees here but they can certainly be found.  The most important thing is that you find a city or region to invest in and learn about it, starting with the different neighborhoods, how the market works, etc...  Whether it be in LA, another place in CA, or somewhere else in the country.   What resources are you looking for?

I had a similar issue with a tenant I inherited one time, sorry you have to deal with this.  My eviction did take a while but I used a law firm that specializes in evictions and he did get a judgment against the tenants.  They ended up staying long enough to the point that the sheriff had come to throw them out.  When the sheriff got there, the tenant had his girlfriend there to state that she hadn't been evicted but the sheriffs officer wasn't having it and took them out anyway.  All that to say, I went through an expensive learning experience but it hasn't happened again since we screen tenants really well.
Start with a good eviction attorney and take the steps necessary and eventually it will work out.

@Account Closed good luck man!  I had a client recently who was in the same position.  $500k goes a long way in the Central Valley, most of the time you can buy a duplex or Tri-plex for less than that or a 4 plex that needs a little rehab and has some value add opportunities. If you have any questions feel free to let me know. Good luck! 

hey Paolo, short term market is pretty good, it was better during covid which was really high and that's what most people compare it to.  Most of the time you can plan on about 50% occupancy and rents anywhere from $80-$150/night depending on size of the home.  I have a few financials from some recent places I've worked with if you'd like to see them.  Feel free to message me. 

Good questions to ask as you are starting out.  If it were me I'd start where you live, it's much easier to get experience when you can be really hands on.  Then, after you have a good grasp on what you are doing begin looking in areas you think the cash flow is better (if that's the case).  Good luck! 

@Gursimran Singh congrats on finishing out your first house hack.  There are a few really good ones in town and all have different strengths when it comes to class of the house and area.  I use Neighborhood property management for my MFH, I've also had clients use Regency who are really good in C and below areas.  @Yue Lehman mentioned Managex, I've never used them but I hear they do a good job.  You are welcome to message me if you have any other questions or want more details. Good luck!