How is Fresno real estate, mainly for investment?

Bay Area
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Thank You Elt1,erth and Jil

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I know nothing about Merced. But having a UC campus is a big deal for rental property. Definitely a better bet than Fresno

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Shrug. Depends where you’re buying and what type of units. I focus on SFH like you @hanera in Austin. Wouldn’t be surprised if Bay area was also 10%. My friend has a tenant in San Jose that hasn’t paid since Covid started.

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My lot in Bakersfield finally has an offer after 10 years of crickets. Looks like all the junk is selling now. After all house prices nationally have the largest y/y increase in history.

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A bit late to this thread. Just want to comment about investing close by vs far away.

South Bay: GRM is around 35+
East Bay: What is GRM there? I suspect it might be slightly lower than South Bay
Central Valley: GRM is 20-25
Out of state: GRM 13-15

Even if rent is higher in Bay Area, required upfront investment is way too much and income much too low. Appreciation might be higher though. So depends if you are counting on income vs ROI vs appreciation.

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Just bought a condo in Tahoe with a GRM of 11.

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Guess is avg for SB. Mine in CU ~50

About right for Austin.

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Fresno is not the same as Bakersfield. My impression is that Bakersfield is mostly oil field but Fresno has a more diversified economy.

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Bako has agriculture and oil. Actually a more desirable place than Fresno.

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Heard Clovis is pretty nice?
@Elt1 ?

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I have friend who lived in Fresno for 70 years. Now permanently living in Tahoe. He said Fresno is a shitshow. Hotter than hell in the summer and freezing fog in the winter. Let alone all the poverty and crime. His house sold for $400k. Nice older 2000sf track house 2 years ago. Cheap housing is the only attraction of Fresno. Clovis still has the crappy weather and still in the Fresno MSA. I personally think Bakersfield is a better long time investment for an out of the area investor. But I prefer Phoenix

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This is inline with what I have been saying all along. Stay away from speculative real estate unless buying to live. Do your calculations in spot market, not in future markets. Buy at profit if you wish to sell at profit.

Disclaimer: This is not a recommendation to buy or sell in any specific market but an endorsement of line of thinking In which speculation is kept at minimum.

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Phoenix or Tuson?

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Phoenix