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Updated about 10 years ago on . Most recent reply

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Julio Contreras
  • New to Real Estate
  • Casa Grande AZ
0
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28
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Invest in Duplex

Julio Contreras
  • New to Real Estate
  • Casa Grande AZ
Posted

Hello,

First off I want to thank everyone for their awesome information and time taken to read and answer forums. In the last few weeks I have been reading non-stop and been learning a lot. I have read a few books already on investing in Real Estate. I want to start running but need some guidance of where to run.

I live in Los Angeles County (California) and would like to invest in a duplex. I don't have a ton of money so FHA Loan will probably be the way to finance. The thing is that Ontario, Inland Impire and other surrounding cities are really expensive. I have searched under realtor.com and asking prices for duplex are in the high 300's or 400's.

I need some advice if I should invest outside of California on my first investment property or should I get an investment here in California with low or no cash flow. 

Any help and advice will be appriciated. 

Most Popular Reply

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51
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16
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Scott R.
  • Real Estate Broker
  • Los Angeles, CA
16
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51
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Scott R.
  • Real Estate Broker
  • Los Angeles, CA
Replied

Only 300-400k? That's a steal for two units if they are nice. Well considering you'd have to pay me to live in many parts of the Inland Empire (particularly the areas I'd imagine you'd find such a deal), I can see how that is still too much to be worth it for a live in situation. Pomona might work, there are few duplexes for sale there on the MLS for less than 300k. It is also closer to LA than Ontario. And why invest in other states when we have all kinds of prices here in California? All you have to do is leave the LA/OC metro and prices bottom out pretty good. Especially if you look in Temecula or the elephant graveyard, er I mean Antelope Valley.

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