Beginner looking to invest in Los Angeles

4 Replies

Hello everyone, this is my second post on BP. I was just wondering if a house hack would work in a market like Los Angeles? If not, is fix and flip the way to go? buy and hold? Or does it depend on finding a deal?  I am 18 years old and don't have much money to get my foot in the door..  

Welcome, @David Molina ! I am a newbie, too. Not quite as young as you but we managed to get into the LA house hack scene last May and it has been a blast. If you have a steady job, consider an FHA loan and the possibility of moving a bit outside the hot LA zone into an affordable suburb. Scour the BP forums, listen to the podcasts, and attend some webinars. I can't wait to hear what advice more experienced pros give you. Happy investing!

Originally posted by @Victor Viyuoh :

Welcome, @David Molina! I am a newbie, too. Not quite as young as you but we managed to get into the LA house hack scene last May and it has been a blast. If you have a steady job, consider an FHA loan and the possibility of moving a bit outside the hot LA zone into an affordable suburb. Scour the BP forums, listen to the podcasts, and attend some webinars. I can't wait to hear what advice more experienced pros give you. Happy investing!

 That's great to hear, Victor! I've thought about looking into the Lancaster and Bakersfield area. Did your house hack require rehabbing?

Originally posted by @David Molina :

Hello everyone, this is my second post on BP. I was just wondering if a house hack would work in a market like Los Angeles? If not, is fix and flip the way to go? buy and hold? Or does it depend on finding a deal?  I am 18 years old and don't have much money to get my foot in the door..  

 Hello and welcome! Best of luck to you!

Tom Ott, Real Estate Agent in OH (#2016003865)
440-749-4043

Hi @David Molina !  Welcome to the community.  It is a great way to learn and get started.  I think the best question for you is, what is your investment portfolio look like?  What do you want it to look like?  

The reason for this questions is that different areas will offer different success based on different goals.  For example, if you are going into LA thinking of buying a cash flowing asset, I think that would be a little too far gone right now (not to say that it is not possible), and if you are looking for cash flow, are you wanting to purchase in an area that you can see, touch and drive the property when you want, or would you want to try long distance investing?  

If looking for flips, you will need to pin down the distressed market, and there are places where there are more distressed properties than others.  

Hope this helps a little.  

Thanks

Sunny

Sanjeev Advani, Real Estate Agent in CA (#01869863)
661-770-7382

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