Multifamily investing (3-4 units) Fresno/Visalia area

[Samuel Wences]

Hi, BP community

I am looking for a 3-4 unit property in Visalia/Fresno ca area and planning to use FHA loan. Is there any advice or strategies for a new investor in these two markets to close my first small multifamily deal. Also is there any real estate events in the Fresno/visalia area?

Thank you.

[Ryan Bray]

Hi Samuel, 

I'm sure Visalia is similar, although I do not conduct business there. Fresno is extremely competitive right now, any 1-4 unit(on market) property priced accurately to the market will be gone within a week. For on market properties you will be competing with multiple investors, all with deeper pockets and lower required margins than you and I combined... :) Best bet will be off market properties, do your homework, have your criteria and financing in order. Then call all the top brokers in your area, build a relationship and let them know what you are looking for and if they have something come up, assure them you will pull the trigger. Another option would be to drive neighborhoods and areas of town you want to invest in, this is not only part of initial research but provide an opportunity to spot a potential deal. Write down the address then find a way to contact the owner, recommendation would be to make friends first prior to attempting to buy their property. Best posture is to be a sponge hungry to learn, people love to talk about themselves! Ask questions and take in as much information as you can, don't be discouraged by the thousands of "no" you will get. There are various other ways to find off market properties as well, I would buy a few of the books on investing in 1-4 units and add them to your "to-do" list. The market will slow down eventually, many industry professionals are looking at 1st or 2nd quarter of 2023, I think it may be sooner at this point but time will tell! This is not a bad season to save up and stockpile capital. Hope this helps!

Cheers brother! 

Ryan