I'm Josh. Mid-20s. Currently living abroad in South Korea (teaching English), but will be getting married in October then settling down in LA in early 2019. My professional background is in the TV/Film industry, but I am interested in on-the-side investing. I hope to manage a small multi-family unit someday.
In fact, during my current time abroad I was renting out my employer-provided apartment for Airbnb. My cash flow was through the roof since the apartment was provided in my stipend (shhh...don't tell my program). This little seed planted the passion and idea of owning a property and renting it out.
I've always rented all my life (I'm a millennial after all), but now that the time has come to settle down, I wanted to start preparing financially for the rest of my life.
My goal would be to immediately purchase a small multi-family property in the LA metro area with an FHA loan, live in it with my newlywed, and manage it. The feasibility of such a prospect seems very difficult in the current real estate market in LA coupled with the sheer lack of deals available. However, stumbling upon this website via Reddit has provided some much needed resources for seeing this dream through, or shutting it down entirely! What are your thoughts on such an idea?
Look forward to meeting you.
welcome to BP. What are you looking to start with? Single family? Multi family?
@Tie Lasater Multi-family is the dream. There are a lot of plex-es in the LA area, but the market is tough.
@Josh Howard yes LA is a tough market. We have 8 to 10 markets we focus on with our multi fam. Would love to see if there’s a way we could work together and get your feet wet. Text me on the number below I would love to discuss your goals and plans in further detail.
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