If you have been looking for ways to generate passive income, being a rental real estate investor can be a great place to start. One of the primary reasons for this is because not only can you count on a regular monthly rent check from your tenants, but you’re also building equity in your property(ies) using other people’s money.
There is a wide range of rental property to choose from in Bakersfield and the surrounding area. This includes single family homes, as well as duplexes and four-family options. And in some cases, if you personally reside in one of the units that you own, it is feasible that the rental income from your tenants could reduce – or even eliminate – your “portion” of the mortgage payment and other expenses.
So, why exactly does Bakersfield offer significant potential for investor rental property owners?
For starters, the healthcare and construction industries are expanding in this vicinity. This factor, combined with a thriving student population, means that the Bakersfield, California area is attracting both single individuals and growing families alike – and all of these people need a place to live.
In addition, Bakersfield and the surrounding locale are considered to be very affordable when it comes to the cost of living. So, this geographic location can offer a great way to take advantage of a temperate year-round climate and the amenities of the larger surrounding cities, all without taking a big bite out of your (or your tenants’) housing budget.
If you’d like to take a closer look at residential investment properties in the Bakersfield area, give us a call. We can provide you with the information you need on pricing, as well as the growth (or decline) figures in specific areas, which is essential when deciding whether or not being an investment property owner is right for you.