New Investor in Bakersfield

[Joe Rojas]

Good evening BP community and thank you in advance for sharing some of your time.

I’m new to real estate investing; but after listening to BP podcast for years, watching hundreds of YouTube videos, and saving up funds to feel a comfortable safety net I have finally decided that 2021 is the year I start.

I currently have an offer on a duplex near BHS and after running the numbers I won’t be making a significant amount of cash flow, but will be making some.

As a new investor I still have some fears/worries in regards to my upcoming purchase.

My quest to you is “If you could go back to your first investment deal, what would you do different and why?”

[Paul Betancourt]

My rookie mistake was not having the electricity and gas meters split; if I could go back I would have factored this into my decision. Property cash flows darn well with aprox 900-1100 net income so breaking out the utilities is worth the hassle. If you’re new also consider not having taxes and insurance impounded; depending on insurance provider you can pay with credit card and earn points! Also be sure to keep all of your rental agreements archived digitally. This will help you when you get your next ser of rentals - @cleanm4