Updated about 5 years ago on . Most recent reply
Another Newbie from Los Angeles
Hey Everyone!
I just found BP about a week ago and I'm hooked. (Love the podcasts!) I'm in LA and trying to decide the first direction to take action. Well, apart from research. Currently reading "The Book on Flipping Houses" and "Long-Distance Real Estate Investing". Also have that "Cashflow" book that Jon Schwartz mentioned in a post.
While I'd love to invest in LA off the bat, I think I'm leaning toward out-of-state buy and holds to start. Fortunately, I've got a good W2 and solid starting capital.
The main thing I want to do is take action. Research and education are always important, but I don't want to fall into analysis paralysis (which I've done many times in the past).
Anyway... hello again and thank you to everyone for this fantastic community!
Rory
Most Popular Reply
@Rory Coyle
I Rory welcome to the site! LA is a great market but it certainly takes a lot of capital and isn’t as straightforward as building up a rental portfolio out of state.
My standard advice is to pick a market and buy a duplex with upside on the rents with cosmetic renovation. Make sure the market you pick has a stock of small MF. I started out of state and I’m glad that I did. I now can use that knowledge to invest in LA (and out of state).