Investor · Los Angeles, CA · Member since 2016 · 4 posts · 3 votes
Have heard a lot about BP and happy to finally join!
I'm a business attorney based in Los Angeles and have a little experience - I rented out a townhouse I used to live in forand recently sold it w/o an agent. I have another rental SFR in the Inland Empire that's been going strong for 3 years. My current house is set up a bit like a triplex so I rent out a 'studio' long-term and host AirBnB guests in a separate 2BR/1BA, and live upstairs.
I'm hoping to learn more mainly about:
* Out of state opportunities for pure investment. Rent rates seem much better and also lower priced properties would make getting in easier. It seems challenging to find a good reliable team to do the legwork (and generally risky not to be local), but I know it's possible.
* Smaller commercial properties (~$1M). I know the structure of some of these deals (from legal review of leases) but don't know the financials and how these markets differ. Would be tempted to dip my toe in in the LA/OC area if possible.
Here to learn more - appreciate any general tips/advice. Thanks for reading!
Kevin L. In LA, flipping will yield more spread/short term bloated income, more opportunities, higher capital requirements, ~200k, but spreads are also ~100k within 6 months. I'm never a fan of drip income aka rentals, to me it is like your 1 pitcher of water goes out and you get water drips from it. However if that fits your strategy, due to time/skill constraints, then out of state is your best bet, Kansas City is booming, if I were to buy and hold.