Starting with some capital- what to do in the So Cal market???
I am new investor and have come into a sort of windfall- not my money to keep but my parents are looking to partner with me on a purchase or two or three depending on the market. We are somewhat passive investors, looking to have the cash flow to save and reinvest. My parents are looking to have some income from the rentals but dont require a much more than few hundred. I have spent a ton of time researching and looking etc- my conclusion is that a 3+ unit Multi Family is out best bet with the pricing starting in the low to mid 200's - My end goal would be to own a few 10+ unit Apartment complexes for the residual cash flow and to build the equity in the property. I am extremely handy and do 90% of my own work my primary residence now - I would like to be able to do the same for my rentals but am not closed to idea of a property manager to take the headache. I am ready to make some moves and want to do my due diligence before striking the iron..
I am interested in buying in the Greater Los Angeles area- Riverside County- potentially Orange County (prices tend to be MUCH more)
Anybody have any experience with Multi Families in these areas? any tips or tricks?
Willing to have lunch and share ideas? I am looking for someone that can give me some pointers and maybe even Partner with!