Newbie from Southern California

Newbie from Southern California

West Covina, CA · Member since 2018 · 7 posts · 7 votes

Hello Biggerpockets! Long time lurker, first time poster here from Southern California. Like many others, I've been binge-watching the podcasts and reading many of the blog posts here on this site.

I am pretty much a complete newbie when it comes to investing in real estate. However, I have had some indirect exposure as I've been working in the commercial mortgage industry since graduating from college in 2011 (mostly on the underwriting and portfolio management side). 

I've also dipped my toes in a little further recently by helping my parents buy a new house and renting out their old condo with the help of a management company.

Currently am looking for buy and hold opportunities in markets such as Kansas City MO, Greensboro NC, Columbus OH as properties in my local markets are just a tad bit out of my price range. 

Cheers!

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Logan AllecBusiness Member
Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes
8y

Welcome, @Jeff Chen

Some people do well out-of-state, but have you considered an owner-occupied small multifamily for your first deal?

You only need to put 3.5% down, so cashwise it won't get in the way of other real estate goals you may have.

My first deal was a 4-unit up I bought with FHA3.5% in Santa Clarita.

I lived for free (as opposed to paying rent) + enjoyed cash flow + built equity. It was a great investment (and still is).

Good luck!

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