Bakersfield

[Paul Wynne]

I'm looking to buy in Bakersfield. 2 properties around $150K each to rent out. Outlay will be $30K down, $750 per property monthly mortgage, income will be hopefully $1,200 per property. Am I insane? 

[Abe Osman]

I just bought 2 in bakersfield. Just be aware that the rent may not be as easy due to recent oil lay offs. Going into it knowing what youre doing will make it easier. 

Which part of town? West is better than east but I'm sure you know that. 

How did you figure outlay to be only 20%? Dont forget to include closing costs, renovations, etc. Unless renovations are $0 and the seller is paying for your closing, those costs will be higher. 

Also, how do you figure $750 a month? I get a PITI of around $920 on $150k/20% down/30 year

Hope that helps! 

Ps.. Im also from Valencia :D