Los Angeles REI advice for rookie

[Scott Arno]

Hi Everyone!

I first want to say thank you to the founders of Bigger Pockets. The youtube channel, the podcasts, the forums, and the articles have really helped me in taking this first step toward turning my dreams into a reality. 

With that said, my first BP forum question (exciting): 

August 1st I'll be moving to LA  and aim to begin real estate investing in single family homes with a buy and hold strategy. I'm aware of the gentrification of many areas like Echo Park, Culver City, Atwater Village etc.. But, housing costs seem a too little rich for my blood and with a full time job I cannot afford the time to fully rehab a place. Most of the literature and audio I've read and listened to highly recommend investing in a neighborhood you know, trust and can visit. But BP Podcast 73 with Mehran Kamari opened my eyes to out of state investing when you're faced with a local market like LA so long as you have "boots on the ground" in the other state.

For someone like me who is just starting off, with a decent income, should I go for the expensive LA rental if the numbers somehow miraculously work or is it wiser to partner and look towards out of state hot spots given the full time job situation?

[Mike G.]

As @Jaren Barnes said, if you prefer to buy locally, you can get rentals with better numbers further away from LA, like out in the desert areas.