Bakersfield, CA

Hello everyone,

We went to the Bakersfield City Hall to read some of the minutes from the latest board meetings involving real estate issues throughout the city. We saw a lot of new subdivisions seeking approval. We also saw lists of properties that were in violation for various city ordinances. We try to go to every monthly meeting that is open to the public.

With the real estate market changing so rapidly in Bakersfield, we feel like we have to continue our weekly visits to keep pace. We visited all of our properties to make sure everything was operating smoothly. We then visited a new potential property for acquisition. This property is another fourplex with all one bedroom, one bath units. This property was not in as good of shape as our other fourplexes when we purchased them. However, the price is right. The bank that owns this REO is asking only $57,000 for it. We will attempt to purchase this property for cash and probably invest around $15,000 in fix up costs. This property is in close proximity to our other properties and we got the blessing from our property manager that is will rent.

Category:

Education

Tags:

• 1210
• Oregon