Hi, I live in Orange County and finishing up my last couple classes at UCLA. Looking to get into real estate investing during my off season baseball time with multi-family homes or small apartment buildings in the fall. My area is quite expensive, are there any areas maybe in Arizona or Nevada that are attractive (Phoenix looked promising with their population growth and cost of living) that could produce more cash flow than my area? I would want to produce enough cash flow to buy an investment property back in Orange County for higher appreciation in the future. If there is any advice out there I would love to hear it!
The Phoenix real estate market is CRAZY right now! I will warn you that cash flow is a little tight. That said - appreciation is going bonkers, and people are creating a LOT of equity that way. Happy to discuss any specifics!
@Jake M Pries The first you want to do is study the market. Just because you can get a multi family for a cheaper price, doesn't make it a better investment. It might mean that it's in a bad location or not producing any cash at the moment. When you study the market you will find out the average cost for the properties you are interested in. Vegas, AZ and Cali are all pretty much the same market as far as cost so really zoom in on how much cash you want to make per month and how to get into these types of properties with spreads so that if you choose to do so, you can resell and make money as well.
@Louis Davis Thank you! That is good to know, I'll start with those steps.
@Ali Boone Thanks!!
@Pamela Sandberg Would love to! Thank you for reaching out.