Hi there from Los angeles

[Kevin Smith]

Hi there 

My name is kevin from los angeles. Im not even consider myself as newbie. Im in construction but  limited with kitchen counters and tile installation.

My cousin been doing for couple years property investment in kansas city. He lives in la btw. Anyway he told me that how prices low comparing la and rental income outrageous.

Anyway i started studying myself and ended up bp.

Its been only couple weeks so still i dont know much about this. Listening podcast and reading forums are big help.

thank you for all the information

[Larry Fried]

@Kevin Smith Hi and welcome to BP!  I also on the West Coast, and thus far all my investing has been out of state.  I started with turnkey properties and have moved into other areas as well.

I don't advise establishing an LLC if you are thinking of financing properties, because they are not eligible for conventional financing. You have to go commercial. On the other hand if you are thinking about buying a $30k property out of state, I'd say think again for two reasons:

1) A conventional loan at this price (or really anything 50k or below) is essentially unattainable.

2) This price range (especially turnkey) will give you more headaches than you ever dreamed were possible.  AVOID IHMO.

Frankly your friend sounds like a slum lord (check out the book Evicted for some insight).