Buying My First Rental Property
Good afternoon everybody! Please give me tips, ideas, insight, a reality check.
I am 26 years old looking to purchase my first property. Unfortunately, I went through a chapter 7 bankruptcy that will be reaching its two-year mark on June 3rd. I watched many videos, listen to many podcasts, including that of bigger pockets, Jullien Gordon, and many others, as well as read several books.
I want to purchase a triplex with a naca loan. I will have $10,000 saved by June and want to purchase in LA. I am curious if:
1. this is actually feasible
2. if I should purchase in LA?
3. Or perhaps purchase a single-family home in another state where I may need a little more in down payment but start my passive income portfolio.
I appreciate any and all advice as well as a reality check on what is and isn't feasible at the moment.