New to EVERYTHING

[Emily Harrell]

Hi all! I'm Emily and I work as a Learning Specialist in Los Angeles. Saving, buying, and investing are pretty difficult on a teacher's salary, so I'm hoping to learn from the wealth of knowledge here. My fiance and I would love to purchase our first home sometime in the next two years, but the market in California is daunting. Ideally, we'd love to find a duplex or multi-family property with the potential to live in and rent out. From there, I'd love to build my portfolio and invest in other rentable properties. 

Any help and guidance is appreciated!

[Drago Stanimirovic]

Hi Emily! Given California's high property values, your plan to purchase a duplex or multi-family property is smart. This "house hacking" approach lets you live in one unit while renting the others, helping cover your mortgage and build equity more affordably. To prepare, focus on saving for a strong down payment and maintaining a solid credit profile, as both are critical for competitive financing.

If possible, look into FHA or conventional loan options for owner-occupied properties, which may offer favorable terms, especially for first-time buyers. Keep a close eye on local markets in emerging areas around Los Angeles, where property values are likely to appreciate making future investments easier as you build equity.

Let me know if you’d like financing help or need more tips along the way.

Best,
Drago