I am looking into both local and out of state investing. My heart says to invest in the Portland area where I have family or Las Vegas, where I lived for 10 years. But my brain tells me that it would be smartest and most convenient if I could invest locally. I live in Seal Beach. My target area would include Los Alamitos/Rossmoor where the schools are excellent, or Huntington Beach/Long Beach which are both a stone's throw away.
I am starting to put feelers out there to start looking at deals.
I am likely going to be a buy and hold investor, though I am open to all forms of investing. I plan is to very strict in my criteria, as I want positive cash flow ( to reinvest), but am not looking to put down more than 30 or 35% down. This may be hard to achieve in north orange county.
I am open to both multifamily and SFH's.
Currently I have some money parked in some out of state syndications with a trusted friend. While syndication is solid, I want more control and more long term upside on passive (?) income.
So my goal is to introduce myself to some local investors/agents AND out of state in Portland and Vegas. While the cash flow in certain markets in the midwest/south make those areas tempting to jump into, I really don't want to make frequent trips to place I have connection with.
It sounds like you’ve got a good plan and solid, achievable, well thought out goals. The fact that you’ve already taken steps to invest in syndications is a big one.
I lived in Long Beach for awhile in the early 2000s and my Marine reserve unit was out of Seal Beach, it’s a really nice area! I ended up back home in Portland, where I started investing in rental properties and had my own property management company. I became a licensed broker in Oregon so I can help potential investors like you gather data and make decisions that fit your plan and further your goals.
Since you’re familiar with the Portland area because of your family connections, I’m sure you know that we don’t cash-flow in the same way that the Midwest markets you mentioned do. At the same time, there are many benefits to investing here, not the least of which is the proximity to your family.
If I can be of any assistance, please let me know and whatever you decide, good luck!
@Mathew Wray : Thank you Mathew! I will indeed reach out to you.
And thank you for having served in the Marine corp. Blessings to you on this Veteran's weekend. I am a gigantic fan of the military.
@Yong Park Welcome to BP. There are several local meetup groups here in Orange County that you should check out. There is one in Lake Forest, Laguna Hills, Anaheim and Irvine that are my favorites. It's always best to invest locally, but that being said I do NOT recommend buy and holds here in Orange County. That is why I am only flipping right now in Mission Viejo, Laguna Hills, Tustin and other Orange County cities. I do NOT invest out of state, but you might be able to find someone at the meetup's that does.
One of the meetup that Joe mentioned in Irvine is this Wed, and I will be there. PM me and I'll send you more info about the meetup as I don't think I can post links here due to website policies. I invest out of state, but not in those area. However, I have been looking at Las Vegas.
@Joe Homs Thank you for your sound advice. I have been analyzing random deals using the bigger pockets rental calculator just to practice. And yes. Unless someone is willing to give away a property, it will be next to impossible to cash flow/buy and hold in socal. I am not a believer in investing by appreciation.
@Daniel Y. I do plan on attending some local meet ups in the near future. I wish I could attend Wed.
But my other big personal goal is to complete a full Ironman triathlon. The event is coming up this weekend in Tempe. So my life is sort of on hold until I can check this item off of my bucket list. Darn bucket list.
I'm very active in the Long Beach apartment market I've been seeing some good opportunities to add value or buy with positive cash flow. If you're looking for multifamily, I'd suggest taking a look up there
@yong it seems we are meant to be friends, I too am training for an Ironman and am new to real estate investment. I’m interested in house hacking in LA/OC and real estate notes ANYWHERE that makes sense. If anyone has any leads or wants to start the LAPS system with me please message me.
Congrats Yong! Have you looked into any projects in North OC yet?
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