2016 California - Feasible rentals at home or look out-of-state?
Hi folks - I'm new to BP and to REI in general and am looking for some advice as I get started. I purchased my SFR back in 2007 (what terrible timing!) in Los Angeles county and plan to continue living here for the next few years, at a minimum. I'd really like to start investing conservatively in cash-flow-positive rental properties, while keeping my regular job, and with an eye towards retirement in 15-20 years. Unfortunately, I didn't have the reserves to invest during the last down cycle. Now that I do the SoCal market has of course rebounded. So, what's the best play for me right now?
- Keep saving and wait for the market in Southern California to crash again - but who knows when that will be?
- Invest out-of-state in an undervalued area with all of the challenges that being remote might bring
- Try to find a deal in Southern California in 2016. Is this even feasible though? If so, in what regions and how?