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Updated almost 7 years ago,
Stockton vs. Fresno vs. Bakersfield (or another city)
Hi folks, I need some market comparison advice for a rental property in Central Valley (California.)
Here's my criteria:
- $75,000 - $120,000
- Cash only (don't want to finance)
- Growing area with a strong rental market
- Not a fixer-upper
I've done a fair amount of research but am still not sure which city/area in Central Valley is the best investment right now so I can narrow my search down to one or two areas.
After exploring single family homes, I've decided to get a 2 or 3 bedroom condo instead, I don't mind paying HOA fees, and prefer that to having all the maintenance and repair expenses of a SFH. I've bought condos before and did well. I know they tend to have less of a monthly cash flow a because of the HOA, and may not appreciate as much as a house, but I'm ok with that. I just need a good, solid income generator in a growing city.
Would greatly appreciate any guidance on which cities are best, given my critera.
Many thanks,
Chris H.
San Diego, CA