Home Buying in Fresno>Question Details

shangshang222, Real Estate Pro in California

Buy investment/rental property in the Fresno area?

Asked by shangshang222, California Fri Oct 25, 2013

It seems that the property prices have substantially gone up during the past year or so. I want to know if there are still opportunities out there to buy rental/investment property in the Fresno area. I am looking for rental return of around 7% per year after all expenses (pay cash for property); also want appreciation so want good areas. Prefer SFR built after 1990 with 3 bedroom, under $150K. I know this is a tall order, but is it possible at this time in Fresno area?

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Have you considered financing for this property? There are some things to think about when buying an investment property. Well first off since this is an investment property and not your primary home, things will be treated differently when it comes to finances and rules. You can no longer qualify for any of the first-time buyer perks like grants or an FHA loan unless you actually plan to occupy this property. Otherwise, you will be expected to pay a higher down payment and interest rate if this is your second property. Either way, you should speak with a lender like myself that would be able to help you with your questions when it comes to financing. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Fri Feb 14, 2014
Value of houses in Fresno has increased a lot in Fresno , it will be hard to find a newer home under $150,000 however there are some properties that need TLC from banks or short sales that you can get for that price . You will see that investments in Fresno will bring you cash flow on top of that is appreciation . Good luck in your future investment !
0 votes Thank Flag Link Fri Oct 25, 2013
Good afternoon,

It is possible to find but keep in mind to be patient to find that right property. If you can pin point the area you are most interested in I can send some listings. Rents remain good so a return of 7% is possible with appreciation.

Thanks

Grant Hunter
ghunter@nctv.com
Licensee since 1985 and with Big Realty.
0 votes Thank Flag Link Fri Oct 25, 2013
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