All Forum Posts by: Jack T.

Here in Bakersfield, you can easily find nice duplexes, triplexes, fourplexes, and 2 homes on 1 lot deals for $300,000 or less.  In fact, I'd say that's the kind of price you'd expect to get a triplex or fourplex in a nice neighborhood here.  Also, @Josh Justiniano is right, you can literally buy 2 nice single family homes here for $300,000.

I recently found a client of mine a big 4 bedroom home that also had a separate 1 bedroom apartment with it's own garage, laundry hookups, and separate utilities.  It needed a lot of work, but we were able to get it for $140,000 and he has put in around $25,000 in repairs.  It's now worth around $200,000.  He was planning on flipping it, but he decided to rent it out instead, given the layout would work for two separate tenants.  He hasn't put it "for rent" yet, but my guess is that the main house will rent for around $1200 (that itself is way more than the mortgage payment will be once he cash out refinances it) and the apartment will likely rent for around $500.