All Forum Posts by: Justin Yurong

Generally, yes that's a correct assumption about Clovis and Fresno. I've only had personal experience screening tenants in Fresno, but if you are in a decent area and your rent is reasonable, I don't think you should have anything to worry about when it comes to finding qualified tenants, especially if you're thinking about Clovis. Clovis just comes with higher a higher price point, typically.

Hi Anna! I'm more familiar with the Clovis/Fresno area than I am Visalia, but maybe try consistently analyzing deals in both Visalia and Fresno. If you do that, I'm sure you'll get a good idea of what the numbers look like in both areas, and you'll figure out which area looks more favorable to you. 

Fresno is pretty neighborhood-specific, so if you have any general questions about the area as you're analyzing deals, feel free to message me any time. I just want to help you understand the neighborhood you're buying in if you're considering Fresno or Clovis, especially if you're looking to live in it.

@Rene Lopez Ramirez Dan's given you some great advice. I would emphasize starting out by learning as much as you can through the Bigger Pockets podcasts. They are filled with information, and it helps to be able to have an understanding of general real estate related terms when making new connections when you do go to those local meetup groups. It shows people that you're serious about trying to get into real estate.

But really, just make as many real estate connections as you can. You are the average of the five people you spend the most time with, and if the five people you spend the most time with are not interested in real estate, it will be much more difficult to start becoming more involved in real estate yourself.

@Account Closed My best recommendation is to make a post about your situation on Bigger Pockets. There are many experienced investors out there who are willing to offer advice that can help you make a decision. When deciding if a property is worth it to you, I feel like it always comes back to the numbers, the location, and your comfort level. Best of luck to you!

@Leon Li Thank you for that insight. I appreciate your help, and it helped me make my final decision.

@Jason Pritchard I really appreciate the honesty. It's what I needed to hear. Thank you.  I'm going to walk away from the deal after considering the repairs, purchase price, and neighborhood.

Thank you all for your helpful feedback.

@Caleb Heimsoth Thank you for the advice. Initially, I had expected 10-15k in repairs. I just got the contractor bids to find out how much everything would cost. I still considered renegotiating with the seller, but I would need a steep drop in the price.

@Caleb Heimsoth Being conservative, around 216k. I expected a quarter of the repairs when I went into this deal. It's the roof, foundation, and electrical issues that were the big unexpected repairs, along with all the little items that add up.

@Caleb Heimsoth I appreciate your input. Thank you! That's what I'm worried about - the 45k turning into 70k. I know there's a way to make this deal happen, but I'm starting to wonder if it would even be worth it because of all the unknowns associated with this property.

@Jason Pritchard Thank you for the word of caution! Other than the repairs in my OP, it needs replacements for kitchen cabinets, laminate countertops, sinks & the plumbing that comes with them, and drywall/plaster. It also has loose/damaged siding, security bars on windows that need to be removed, earth-to-wood contact in the foundation and siding, leaks in sinks, windows that don't stay open, loose toilets. And two of the units don't have carbon monoxide or smoke detectors. That's the scope of work as quickly as I could put it. I've never lived in the area, but have a friend who has lived there his whole life. The plan is to live there for at least a year and then move out to make it a pure rental. Is there anything you have experienced with that neighborhood that is worth knowing to someone looking to buy there? Any information helps - vacancy, crime you've seen, tenant issues, etc.