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Updated over 7 years ago,
Bakersfield for first time investor
Hello! I'm from LA and have been itching to start my journey toward more residual income by purchasing rental properties. I'm new and have a lot to learn. To start, I've been thinking about Bakersfield (Los Angeles is too expensive and much too risky money-wise for a first time buyer, I think). I'm hoping someone from Bakersfield can answer a few questions for me.
I'd love to purchase small multi-family units to start - preferably triplexes or fourplexes. Since I don't live close, I'll also likely be using property management. The goal is cash flow. I plan to hold the property long term - more than 10 years. Which areas in Bakersfield would you suggest? I know west is safer but there seem to be few multifamily properties there. Is downtown Bakersfield a good area for rentals? I'm hoping for a place below $300k to start.
Thank you. Any advice is appreciated.