BRRRR Investing in Southern California
Hi All,
I'm just starting my real estate investment journey. I don't have too much experience yet, but I've been a mortgage banker for some time so I have a decent base knowledge.
I was wondering if anyone could give me some advice on investing in southern California (I'm in Orange County). The rent/price ratios are terrible and so far it seems like even if I can find the perfect BRRRR deal, the rent will barely cover the PITI (at least for SFR). So right now I'm trying to search for 3-4 units in LA and Orange county, but does anyone have any other areas they would suggest I search in? I'm really willing to look anywhere in SoCal.
Also, any advice on long-distance investing would be great as well. I'm beginning to think that would be my best option and I'm searching around the country for good areas to buy in. I feel comfortable finding a good realtor and property management company in an out-of-state area, but I'm definitely nervous about buying a fixer-upper and trusting a local contractor to rehab it. Anyone have experience with this? Any advice?
Thanks in advance for your help!!