Honolulu, HI · Member since 2016 · 4 posts · 0 votes
I am considering of buying a Duplex Property by Southern California. Me and my spouse have a good credit and around 200k cash. Any suggestion as to where is the best area to look for one, considering cash flow?
This is actually my first REI, and I heard that SOCAL is kind of hard to cash flow from compared to other states, is this true? - If not SOCAL, where is the best state to look for a Rental Property that can generate the best return? Thanks for your reply.
Seattle, WA · Member since 2016 · 11 posts · 2 votes
10y
Hi Bob,
We have the same idea and just began foraying into the Los Angeles market for duplexes. So far I have run into three properties. I can tell you they are currently going from 600-750k. Need some work. In working-class family areas. Can rent from perhaps easily $1300/mo to bullishly $1700/mo depending on if you can get someone to pay for a 'nicer' unit in a drab area.
As for if these would cashflow, you can do the math :)
Los Angeles, CA · Member since 2016 · 99 posts · 14 votes
10y
Hi Bob,
Thanks for your post. SoCal has some great opportunities for investments. Price and location can depend on the type in investment you are interested in (buy & hold, flip, rental, etc). In terms of cash flow, there are duplexes and 1-4 unit properties that will give you a good return, especially in locations where new businesses are popping up, both by the beach and more inland.
Please feel free to reach out if you have any questions or are interested in learning more about the SoCal area.
PS: Arizona has a great market for investment opportunities as well!
San Diego is a great place to invest in terms of total return. If you're looking strictly for cash flow, though, it can be tough. Feel free to shoot me a PM if you'd like to chat about the investment opportunities in this market.
Thanks for the input Niko. Yup , I think those numbers are kinda challenging to cash flow from. How about flipping in SoCal? Have you considered doing it? If so, what do you think about it?
I am considering the Orange County area, with high rated public schools and was ranked one of the safest places to live in Cali. Base from what I see on Zillow, prices there are pretty much comparable now to my place here at Honolulu. I am a newbie investor and I was told that you cannot rely on Zillow for opportunities. In your experience, what is the best way to find great deals in the area? For rental and flip?
I also would appreciate if anyone here on BP can give their advice on this. Thanks.
Real Estate Agent · Buena Park, CA · Member since 2016 · 743 posts · 424 votes
10y
Forget California,you want the most bang for your buck.You want Cleveland,Toledo,Indianapolis,Memphis,Dallas,and Houston for great and affordable multi family properties.