Starting out in Los Angeles, where/how to invest?
Hello everyone. Would like to ask the community for some advice on starting out. I live in Los Angeles, have about $75k, excellent credit, and great W2 income. I am looking to start out in REI and could use some guidance. Of the different options I've read buy and hold is most appealing. I'm not sure I would have enough capital to build a strong portfolio of rentals just yet, so I'm considering flips as well. The problem is everywhere I read Los Angeles/Southern California aren't the best choices when it comes to either option. Investing out of state seems appealing because of the cash flow possibilities. Obviously the down side is being so new I'm not sure it'd be a wise thing to do. One other possibility I've looked into is investing in not-so-desirable areas (i.e. Compton, Inglewood, Watts, etc). Can anyone chime in on this option?
Any advice/guidance would be greatly appreciated.