Rental Property Investor 路 Los Angeles, CA 路 Member since 2019 路 6 posts 路 2 votes
Hey everyone! My name is Isabel Ortiz, & I'm a twenty-something living in Los Angeles, very new to real estate investing. A more experienced investor actually introduced me to the Bigger Pockets podcast after making it clear that we wanted the same thing: financial freedom...and that investing is a powerful way to achieve that. I got hooked & have been studying up on the BRRRR method, and am hoping to invest in a property this way as it seems to be the best path. Currently I'm looking to invest in multifamily outside of California (from what I've learned this market isn't the greatest at the moment), preferably in the Philadelphia area.
The goal is to learn as much as possible, build a solid network, & land my first deal very soon. I'm looking forward to all the knowledge and connection this space has to offer!
@Isabel Ortiz-Gelder Welcome to BP!! You started on the right path with the podcasts! We would suggest that you listen to old podcasts because there can be a lot that you can learn from them. Also being active on the forum can be extremely valuable and help you determine the best market to own property in.
@Koleton Daley I'll definitely check the older episodes out and explore more here on BP! I'm going to continue to educate myself on other markets out there, but since I'm just getting started I'm wondering if it would be smartest to invest locally first? Would love to know your opinion on that
Hey Isabel! Welcome to BP. I am an agent/investor in Philadelphia, and have helped many our of state investors start investing here. It is a great city, as it is currently on the rise, but it is still fairly easy to find good deals. Definitely feel free to reach out.
@Isabel Ortiz-Gelder Welcome to BP! I too got my start by BRRR'ing here in good ole "untouchable" Southern California. If you're in it for near term immediate cashflow, then yes - So Cal is a difficult market to achieve this. If however, you're in it for the long haul, California can still offer opportunities - especially to those looking to owner-occupy and willing to provide their own sweat-equity. Not sure of your individual situation, but let's assume you're paying rent - I can't imagine your Los Angeles rent is an inexpensive commitment... Going owner-occ on small multifamily can STILL offer a great way to participate in tax advantaged RE ownership, mortgage paydown, and the long-term appreciation that California real estate is known for. I'd bet if you did an "after-tax" calc comparing annual rent versus owner-occ multifamily, you may just be surprised to learn the gap is not as significant as it may seem. You may have to sacrifice in the near-term, but isn't that what this game is about - especially early on... If I can ever be a "local" resource to you, please reach out anytime. Happy hunting!!