All Forum Posts by: Josh Justiniano

Nice story.

Hello, live in the Thousand Oaks area too.

What kind of investing are you doing?

@Account Closed Good thing you're starting young. I started studying up at your age but wished I pulled the trigger sooner. Closed my first one at 23.  What I realized in hindsight was I could have started a lot sooner. Send me a PM, maybe we can hop on the phone and talk a little bit about your markets and how to get started. I'm from Ventura County so we're practically neighbors. LOL

Welcome!

Just curious why you chose to work in Lake Havasu.

I would stay away from the the MLK Drive area and cottonwood areas. Also, Kern medical center area and parts of east Bakersfield are not the best. Your rehabs will get burglarized/vandalized in those areas.

@Russ Beck

I don't use the 70% of ARV... but what I'm seeing in Bakersfield in the 75 to 200 price range is 12-20k in profit (un-levered). About 10% cash on cash returns for flips for a normal MLS buying flipper.

KMC area has almost no appreciation. Pretty sketchy area.

Oildale has slightly better appreciation as long as you're north of China grade loop, or at least norris, but since it's multi I'm assuming not since that's mostly SFH. There are some better pockets in Oildale. I'd honestly buy a duplex somewhere like the spice tract in the SW area. Just find something like 165 in that area, you're probably buying with a little equity and hold on. You will have much less headaches and the appreciation is much better there.

Say 2 - 2 bed 1 bath units rented at 865 a month - that's 1730 a month... Buy at 165k... Your resale will be around 185k to 200k for something like that in the spice tract area... You will cash flow, have better appreciation and much less headaches and problems and you can rent really quickly there.

It's getting harder to find good rentals. I do occasionally wholesale in Bakersfield, and I see people looking for 15 to 20k on flips where the price points are 80 to 150k. So you'd have to really do a whole lot of them to make good money. But they're out there! 

Yes. Bakersfield has gotten pretty heated along with the rest of CA. Finding deals has gotten harder but there are still some out there for the diligent. I've bought quite a few rentals out there over the last 12 months - We've picked up about 12 units in that timeframe, but it hasn't been easy to find them at all. Lots of $$ on marketing...

Well I think for the most part the 50k to 60k properties are pretty dried up in Bakersfield unless you're buying in a very shady part of town, or a mobile home. @Kathy Villagomez

There's still a lot of opportunity out there though.