Finding deals in Fresno Ca

[Cesar Valencia]

Hello everyone,

I recently joined the BP family and I'm trying to buy my first investment property. I've been looking for deals to buy and hold either SFH or small multi family properties in Fresno California for the past 4 months. I'm working real estate agent, but at this point in time it seems like all the listings on the MLS are too high in price to invest for positive cash flow. My question is: Is it worth it right now trying to find deals on the MLS? or I'm just wasting my time taking this approach....

[Jay Orlauski]

Hi Ceasar - 

Welcome to BP. Don't give up yet - while the MLS may not be the best place to find a cash flowing deal - they do exist - I'm usually able to find 1 per week -

The real key is to find pocket listings - ones that the other investors don't know about yet - this happens through networking. Be sure to let everyone you talk to know about your plans to buy property - go to some local real estate groups and go to networking events. let people know that you pay finders fees for homes you buy.  Carry a special business card just for buying houses and pass them out wherever you go. If you get the word out enough- you should start find deals and if you build up your buyers list at the same time , you may be able to wholesale some of the deals that you cannot take advantage of. There are other ways to increase your marketing- obviously yellow letters, bandit signs and what-not -  but really getting yourself out there and networking will help you out more than any other marketing campaign  - unless you have the money to do a huge yellow letter campaign or something.  

Either way - don't give up -  there are deals to had , you just have to turn over the right stones to  look under - remember that making money in real estate is all about locating the right situation - not the current market. If you are buying distressed homes - your going find those in any market because there is always going to be somebody losing their house, or divorcing, or a death in the family - these are things that will always be a factor in real estate and this is typically where the opportunities present themselves. Even multi-families can be purchased in distressed conditions and brought up to par, so keep your ears to the ground.

Keep it up and don't give up just yet - is the agent you're working with experienced in investing? and does he/she have their own investments ?  When I was working with an agent who didn't specialize in investments - I had to do a lot of leg work on my own   - 

best of luck to you - keep us up to date on your progress!