All Forum Posts by: Sanjeev Advani

Ida Saidkariev I would definitely be careful. The amount of rent you are collective versus the purchase price shows me that the area and tenant population may not be so good. If you have a 10+ cap on paper then you also have to look at what expenses could come up that would bring that cap down. I live and work in Bakersfield and we have not been seeing deals like this in good areas. If you want to discuss further please feel free to PM me.

Hi Ida Saidkariev Welcome to BP and congrats on getting started investing. I think Bakersfield is definitely a more affordable market than LA and has also become more competitive as such. There are still good investment opportunities for those who know the area and can be competitive against other investors. Feel free to PM me to chat further but congratulations again on getting into the investment market! Best, Sunny

@Jorge Barboza Jr. I think you can definitely rent out properties in the Bakersfield area still.  Finding those deals, in my opinion, has gotten much harder.  On top of that, I think it comes down to how the property is managed.  

For example, if you don't have a company that is managing the property correctly (i.e. making sure the necessary cap ex and repairs are being done) then the property will not continue to demand market rents.  

Also, I think any 'Oaks' neighborhood property would be difficult to rent right now.  Normally those properties are on the higher end, and with oil and ag being as it has been in the recent past, the amount of people that used to rent those houses has dwindled.  

We have been seeing success in the mid market region, if the property is priced correctly, some properties have been getting qualified responses within days.  

@Kevin Walters Definitely West side

Hi @Kevin Walters

First off, congrats on starting your journey to being a landlord.  

I think that there are definitely properties in Bakersfield that could work for you.  The price range you are looking can afford you a property that can cash flow while having good quality tenants.  

I think the key here is to find a good property management company as well that is willing to take care of the problems of being an out of town landlord, and willing to do the due diligence to make sure your tenants are well vetted and your property is properly taken care of.  

Generally, I have seen that the market here is very hot for multi-fam (i.e. properties will come and go off market within hours and often times multiple offers).  It helps to have an agent that has connections with other realtors and can help you negotiate through these as well.  

As far as cap rates, I think that the quality of tenant you will receive versus the rate of return will be higher here than in Lancaster, but to be fair, I don't have too much experience in that area.  I know that Fresno has some good cap properties as well, but the problem is again the quality of neighborhood/tenant which you will be working with.  

If you are interested to discuss further please feel free to PM me.  

Good luck with your investing journey and I hope we can be in touch!

Hi BP

I am in need of deals for my buy and hold investors and some flips as well.  If you have anything in the Kern County area please feel free to let me know!  

Very urgent!

@Eliot Houman I would definitely keep the condo in Newport Beach. Property in that area just keeps increasing in value much beyond what I think most people imagined. With that said, I would keep the place and look to invest the $50-$80K in properties that you can BRRR, or get positive cash flow from.

Bakersfield is a place that can happen for you, if you choose.  

Riverside, San Bern, and Rancho are good places to invest but will probably require more capital than Bakersfield.  

If you would like to discuss further feel free to PM me.  

@Brandon Hardin the meeting is very helpful!  Look forward to seeing you there!

@Ben Valdez welcome to BP.  Hope your investing journey has been going well. 

Magoo's Pizza for sale on Brundage northeast of the 58 and 99 freeway interchange. Beer/Wine License Included. High visibility location with steady traffic throughout the day. Located near small businesses and retail stores, this central location is ideal for attracting a lunch crowd and heavy delivery business. 

Medium sized building on large parking lot leaves plenty of room for expansion of kitchen and seating areas. Fully furnished kitchen with large gated storage area at the rear of the building. Large parking lot.

Deal includes all furniture, fixtures, and equipment.

http://www.loopnet.com/lid/19706662

What are your real estate goals for this year?