Investing in Los Angeles/Westwood/Beverly Hills (condo/apartment)
Hi everyone, I'm new to the site and am learning a lot! My husband accepted a year long work contract in Los Angeles so we are looking to buy a condo/apartment in the area. We plan to live in it for a year, and then turn it into a rental property. We are looking at the following neighborhoods: Westwood, Beverly Hills, Miracle Mile and West Hollywood. Culver city and Palms are also options.
I have also read up on rent control in LA. My understanding is that the law includes the cities of Los Angeles, Beverly Hills and West Hollywood, and only applies to units built before 1978. We plan to look at properties built after this date if they are located in these cities.
We do not currently live in Los Angeles and are unfamiliar with the local market there, so I was hoping to hear your thoughts on which area(s) would be a better option for an investment property? Thanks in advance!