Newbie from Los Angeles, CA

7 Replies

Hey everyone,

My name is AJ - I'm a software developer/freelancer based in LA, California.

I've been looking at investing in real estate for a few months now and and am finally getting around to introducing myself here. I've been primarily interested in investing in Multifamily. LA's market is a little saturated so I've been looking at out of state opportunities but have yet to settle on a market.

People who invest out of state/non-local, how do you evaluate potential markets for opportunity?

@Anshul Jain continually educating yourself is priority number 1. Also surround yourself with smarter and more experienced people than you. You should stick close to home within maybe a 4 hour drive so you can check on the property now and then. Buying thousands of miles away is tough until you have the knowledge, skill and the right team in place in that area.

Hi @Anshul Jain ! Welcome to BP. Have you considered investing in the Inland Empire? Many people tout investing out of state, but if **** really hits the fan, you might want to consider driving an hour away instead of having to fly to a different state to handle a problem.

I've definitely considered investing in Inland Empire, but I'm trying to target a purchase price of under $500K, and haven't found much in the realm of multifamily in that price range.

Are there any areas of the inland empire that you would think I should look at?

Only talk to investors that have already invested in that area and can give you solid contacts to have boots in the ground that will really look out for your interests. Your team is key. Take it from me. I have 122 front doors thousands of miles from my house.

Swanny

@Anshul Jain Welcome to BP!  If you're looking to connect with experienced Multi family investors who work in and outside of CA but live in our area I highly recommend the new meetup @Jeffrey Isenberg started in Sherman Oaks.  They hold it at a cantina on the private patio and it's just a great place to talk shop and learn.  You can find it here under the networking tab followed by "events" or look it up on meetup.  "Sherman Oaks Multifamily Investing Meetup".  It's free but I recommend buying some happy hour tacos!  Hope to see you there sometime.

All the best,

Hello! @Anshul Jain

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an "investor friendly" real estate agent.

There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you