Network,Find Opportunities,Find Funding, Promote Events and Services
I am wondering how many people are actively considering the Apple Valley areas for commercial buildings, or even Bakersfield and points in between.
I hear folks all the time talk about wanting decent cash-flowing properties in SoCal, but when I mention some I have had in the past that are outside of LA county, most specifically in northern San Bernardino Cty, suddenly the interest seems to drop unless it is for points South. (Same reaction for SFRs)
Has anyone else experienced this? I believe there are some good deals to be had out there. Cash flow is cash flow, with good management in place. AN d I am seeing properties at 9-11 cap rates. Is it a fear of no appreciation? Thoughts, anyone?
As a lender, I find underwriters are influenced by the stigma of a locale. The high desert of So Cal was hit hard by the recession, and credit decision-makers still assume it's a depressed area. I am getting things done in Inland Empire, but the high desert is more difficult. I will still pursue those loans, but I have to be realistic with buyers about property quality and sponsor strength.
We would look at your SFRs in San Bernardino County. Leased or vacant.
Including in the High desert? Conventional funding/lending?
We're actively seeking loan opportunities - of all types - all over SoCal, including San Bernardino County. Our focus is on industrial and office, but we do retail, apartments, auto-related, hotel/motel, restaurants, etc. Please contact me if you have needs that are under served in the area. firstname.lastname@example.org