Can a seminary student invest in Los Angeles?

[Nathan Myers]

Hey all, this is my first time posting on this forum. I'm a huge fan of BP! I was introduced to BP maybe a year and a half ago. I instantly fell in love with the podcast and YouTube channel. I quickly took action and was able to buy my first property: a triplex right outside Lancaster, Pennsylvania. I have been house hacking with my wife for a year. Recently I have received a significant scholarship to attend a seminary in Los Angeles. So in the beginning of January 2022 we will be moving out to LA. I do not want to stop investing in real estate even though I will be a student and in a very expensive market. I have a strong desire to be financially independent one day. I would love to adopt children, and even pastor a church for free in the future.

So there's some of my story and goals in life. What options do you all think a seminary student has out there?

 And if there is anyone near the Sun Valley area that wants to meet up, I would love to once I get out there.  I am eager to help/learn more about investing and property management. 

Thanks

[Jon Schwartz]

Originally posted by @Nathan Myers:

Hey all, this is my first time posting on this forum. I'm a huge fan of BP! I was introduced to BP maybe a year and a half ago. I instantly fell in love with the podcast and YouTube channel. I quickly took action and was able to buy my first property: a triplex right outside Lancaster, Pennsylvania. I have been house hacking with my wife for a year. Recently I have received a significant scholarship to attend a seminary in Los Angeles. So in the beginning of January 2022 we will be moving out to LA. I do not want to stop investing in real estate even though I will be a student and in a very expensive market. I have a strong desire to be financially independent one day. I would love to adopt children, and even pastor a church for free in the future.

So there's some of my story and goals in life. What options do you all think a seminary student has out there?

 And if there is anyone near the Sun Valley area that wants to meet up, I would love to once I get out there.  I am eager to help/learn more about investing and property management. 

Thanks

Nathan,

House hacking a duplex near Sun Valley is going to be expensive. Most Sun Valley duplexes listed currently are $1M+.

It comes down to finances. I'd talk to an LA lender about what kind of mortgage you'll be able to qualify for as a seminary student.

For down payment funds, do you have any equity in your Lancaster property that you can pull out with a refinance or HELOC?

One nice thing about LA is that, because it's so expensive, there's a huge infrastructure here for out-of-state investing. There's no shortage of locals here with strong connections to out-of-state markets. I myself can refer you to excellent teams in Columbus, OH and St. Louis. If your funds limit you to less expensive markets, you can definitely keep busy even while living in LA.

Best,

Jon