Temple City, CA · Member since 2015 · 10 posts · 0 votes
Hi all! My name is Pearl and I'm new to this forum. I'm so thrilled to see there are so many people that have similar interests and questions as I do. I am in Southern California, and the housing price has skyrocketed in the past couple 3 years. It seems to be somewhat steady now. I just wondered what are all your thoughts on investing in SoCal at the moment, and if there is any suggestion on where to invest, the types of properties, and the method of investment (i.e. renting out, flipping). Thank you!
Investor, Trainer, Team Builder · Orange County, CA · Member since 2015 · 49 posts · 14 votes
10y
@Pearl He Welcome! My partner and I have been successfully investing in the Los Angeles and surrounding areas for just over 7 years now. There are usually plenty of investment opportunities to go around.
I would ask, what are your real estate investment goals? Have you taken the time to map out your goals for 2016 and determine what it is that you want to accumulate in your real estate investment activities?
I can help you plan, if you like and then we can talk about the action steps that will allow you to achieve your goals. I'll send you a private message and then we can connect as your schedule permits.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
10y
Hi Pearl! I'm in SoCal as well....Venice Beach. As far as how to do it around here, it totally depends on what kind of investing you want to do. Each method will have different answers as far as where to do it, etc.
If it helps while you're pondering how you want to get involved, I wrote this article awhile ago...might help some?
Thank you so much for that article! It totally made it clear to me the different ways to invest. Because of my situation, a full time job and two children at home, I feel that the one method that makes the most sense for my family is rental income. The only thing I don't like this method is that I am not able to acquire that many properties, because the loans are limited to my income. For as long as I own the property, I cannot use that money to do anything else. And I don't see how I can get around with it unless I start flipping houses.
Temple City, CA · Member since 2015 · 10 posts · 0 votes
10y
@Account Closed Thank you Rudy for the post! Currently, my goal is invest in enough houses, that later on, my assets will start to build up. I know this is very vague, but I do see that real estate is a sold investment that will give good returns. My current situation best allows me to use rental income, but that seems to me a very slow way to build up wealth.
Temple City, CA · Member since 2015 · 10 posts · 0 votes
10y
@Ali Boone I meant that my income will limit how much loans I can get. I am only talking about conventional loans, as that is the only method I have been using and understand. I know there are so many other types of financing, but I feel a little overwhelmed. :-)
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
10y
Oh yeah, for sure. Loans are limited, but a lot can be done with them. But more so, in terms of the money being available, it all depends on what kind of money you are looking for. Investing into those loans will give you passive income each month that you can build on and use the equity on those loans later. Flipping it more immediate, but also higher tax consequences.