Newbie/House Hacker in the making - Los Angeles
Who am I:
Hello, Everyone! My name is Roman Cervantes. I grew up in Arizona and attended Arizona State University where I received a Masters Degree in Architecture. Upon graduation in 2015, my wife and I packed up our belonging and made our way West searching for that ocean breeze and ended up in Los Angeles.
Experience:
I made a great friend that recently introduced me to bigger pockets, and I've been hooked since. I guess part of the reason why I decided to pursue architecture is that my father worked in construction for many years and this line of work was something I felt familiar with. Growing up, I helped my parents with their house flipping and rentals, so I've witnessed what REI can do, I just hate that it took so long for the light bulb to go off.
Current State:
I am looking forward to gaining as much understanding as books can give me, but mostly eager to acquire our first property and learn while doing. My wife and I just started talking to lenders and realtors as well as driving all over the neighborhoods to understand the areas and market. Our plan is to find a duplex at a decent price so we can House Hack, preferably a property with the potential to add value and resell in the future. If we cannot find something that makes sense, we are open to other options, possibly flipping a house or apartment.
The Goal:
My short term goal is to find a duplex in Los Angeles to House Hack. Long term goal is to acquire multifamily properties in Phoenix Arizona and hold as rental properties. I plan on having 5 units by year one. There is so much to learn and I'm not sure how it's all going to happen, but I know I will achieve it and I look forward to learning from all of you.
If anyone is looking for an extra hand and you're in the Los Angeles area, I would be more than happy to help. Finally, I would love to hear your thoughts on Los Angeles vs Phoenix Arizona. House Hacking would potentially cut my rent payment in half, netting me about 1200 a month vs finding a triplex or fourplex in Arizona that would cash flow 600-800.
Thanks for reading!