Pre-Approved in CA.. Need Feedback
Hi Everyone, I'm just getting started on my RE investing journey and would love some feedback from the community. Sharing some context below followed by a question that has me stumped.
Context:
- Pre-Approved for 550k (Owner Financing)
- Work has gone full remote so location is flexible
- I'm working towards the buy/hold strategy... goal is to move every 1-3 years and build up my portfolio
- Interviewed 3-4 agents in LA county and I currently have my eyes set on Long Beach & North OC
- The main reason I've focused on Long Beach & North OC thus far is due to familiarity. I could find good friends to move in with me in both of these areas, whereas I'm less familiar with the rest of LA as a result of working/living in SF the last 2 years.
I fully understand that cash flow isn't likely especially with my price range in the SoCal market. Originally the plan was to get into an SFH or duplex and househack so I can minimize mortgage payments and start building some equity.
However, with work being remote now I'm wondering what more experienced investors would advise in my particular situation. Are there better locations within LA County I should be looking at? Or should I move to a market with lower barriers of entry and look to scale up faster ie. Dallas/Las Vegas?
Let me know what you think, appreciate it!!