Hi, I'm looking to buy a rental property in Long Beach. We plan to live in it for 1-2 years then rent it out. I am not familiar with the area in terms of neighborhoods and was hoping to get some insight into which areas are safest to live in and ideal for purchasing rental property. Since we will live in it we need to be in a safe neighborhood but we want a home that is in a desired neighborhood and can be easily rented in the future to quality tenants. Our investment strategy is long term buy and hold and our budget is approx. $1 million. We currently live in West LA so aren't too familiar with Long Beach. Thank you in advance!!
I live in West LA as well. Renting out a $1M property once you leave it is not going to generate any cash flow for you.
Take your $300k and invest it in rental properties out of state and use that cash flow to pay for your rent or to quit working your day job and move someone cheap!
@Ash Pate are you still interested in Long Beach property? I live in Long Beach and invest there as well. Let me know if you want to connect and bounce any ideas of me.