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600k cash...how to allocate in sky high market for investment properties in LA area

Amy Wei Ru Chang
Posted Mar 31 2024, 19:35

Hello!  First post for long time forum reader.  Had a succesful investment with College friend 10 years ago and now we are cashing out and going our separate ways.  The property is in Texas and has been handled by the friend for the most part and I was working abroad for the majority of the time of the past 10 years, so sadly to say I am just starting out on my own.  Right now, I am anticipating 500+k cash soon and is trying to find the best place to put it to work before the interest rate goes down, i.e. acquire worthy assets and hold.  I have been looking around the LA county area with an agent for months and 600k can only get me a 2b2b condo for the most part, if I want to stay away from San Bernardino or other ghetto areas.  A friend who is a mortgage borker has been telling me to split the capital into 2 and buy 2 condos with mortgage instead, paying 50% downpayment.  I didn't like the idea at first but after the tiring search with no good targets at sight, I am beginning to toy with that idea.  If you were me, what would you do?  Newbie desperately needs some advice!  TIA!! 

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