New Member nurse looking to invest in Los Angeles, CA

[Gloria H.]

Greetings, BiggerPockets community! My name is Gloria and I am a registered nurse based in Los Angeles, California. Over the past years, I have worked as a staff nurse under hourly pay in different facilities while paying off nursing school then eventually graduate school. Now that I have my school loans paid off, (woo-hoo!) I want to move forward and pursue the next phase of my life as a homeowner! However, with recent events in my field and the uncertainties we have all faced with the recent pandemic, I came to discover that I want to create a safety net for myself and my family. I don’t want to risk my health and safety, or bring home risks for those I care about. Furthermore, I want to ensure that if I get ill and an unable to work, that I don’t face a sudden halt in income. Therefore, my goal is to reduce my living costs and househack a home in the area, with the plan to build my investment portfolio this way. I still love patient care and I have no plan to leave, but I believe we all deserve a brighter future! In the meantime, I enjoy meeting people of different industries, developing my knowledge in real estate and finance, and having positive enlightening conversations with people. I believe this is a great place for education and networking and am delighted to be here!

Thanks you!

Gloria

[Jon Schwartz]

Originally posted by @Gloria H.:

Greetings, BiggerPockets community! My name is Gloria and I am a registered nurse based in Los Angeles, California. Over the past years, I have worked as a staff nurse under hourly pay in different facilities while paying off nursing school then eventually graduate school. Now that I have my school loans paid off, (woo-hoo!) I want to move forward and pursue the next phase of my life as a homeowner! However, with recent events in my field and the uncertainties we have all faced with the recent pandemic, I came to discover that I want to create a safety net for myself and my family. I don’t want to risk my health and safety, or bring home risks for those I care about. Furthermore, I want to ensure that if I get ill and an unable to work, that I don’t face a sudden halt in income. Therefore, my goal is to reduce my living costs and househack a home in the area, with the plan to build my investment portfolio this way. I still love patient care and I have no plan to leave, but I believe we all deserve a brighter future! In the meantime, I enjoy meeting people of different industries, developing my knowledge in real estate and finance, and having positive enlightening conversations with people. I believe this is a great place for education and networking and am delighted to be here!

Thanks you!

Gloria

Hi Gloria!

Welcome to the dance! Congrats on paying off your loans, and a big round of applause for the work you do, especially in these difficult times.

Are you thinking about househacking a single-family home or a multifamily property?

Whereabouts in LA do you want to buy? Where's work for you?

I'm househacking a duplex south of Hollywood, which is centrally located because I work all over the place.

All the best,

Jon 

[Charles Cooper]

@Gloria H.

House hacking is an excellent route to start off, especially in Los Angeles. Another option is buying a duplex and living in one of the units.

[Taylor L.]

Househacking is typically a great option for new investors, but it may or may not work in your HCOL market situation. Have you also considered remote investing strategies like turnkeys & syndications? Also maybe consider relocating. Nurses are in demand across the country, and there are many cities more amenable to real estate investing with much lower taxes on your W2.

[Bill Hampton]

Gloria, 

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking. 

I recommend that you check out the following resources:

1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

2. Check out other online guides available here: https://www.biggerpockets.com/guides

3. Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

4. If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

5. You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings

6. BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators

7. If you can't find what you're looking for, try the Bigger Pockets Fileplace. It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files 

Good luck investing. Let me know if you have any questions.

[Dmitriy Fomichenko]

Welcome to the BP family @Gloria H. ! Glad you joined the best real estate investing website!

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Lots of luck!

[Yezenia Hernandez]

Hi Gloria! Fellow RN here. I househacked by finding a single family residence with an attached permitted ADU. I'm so glad I went that route. It's been great to have that extra income to help pay off my student loans too. I'd like to find a 4 unit building to househack but the numbers that I've seen don't really work in LA (where I work). I don't say that to discourage you though, I'm probably not creative enough to see solutions. I'm going to move my search out towards the IE where I live now. In addition I'm thinking of trying out of state turnkeys.