Any advice for a Newbie from CA?

Question

Hi I’m Tanya and I currently live with family in the desert of Southern California and commute to work that is 1.5 hours away. I’m in the processes of getting my real estate license and becoming more and more interested in investing in real estate. I commute to the opposite desert to Palm Springs. The market is big on Airbnb and I’m debating on whether or not I should rent an apartment and be patient until I get my license to begin looking for my first property? Currently Palm Springs area is such a hot market it’s difficult to find any deal due to covid. Any advice is appreciated. Thank you!

Alexander Gutierrez · Answer

@Tanya Villanueva

Hi Tanya,

I’m happy to help if you ever have any questions!

Marlen Weber · Answer

Congratulations on getting your real estate license soon. Keep up the hustle. It will absolutely pay off :)

Dylan Vargas · Answer

@Tanya Villanueva Welcome! A couple things. I would wait until you have your license as this will provide some income on the transaction. Second I would keep researching the market to see what a true deal looks like. You will be able to see what people pay after a property closes (would you have overpaid or needed to up the offer?) and will know a deal when you see it. I would also look at a duplex , triplex or 4 plex so you can Air BnB if allowed or have the other tenants help pay the mortgage while building equity. You can also do this with a SFH and charge roommates rent to help off set the payment. Just a few thoughts. Good luck and keep us posted.