2% Rule in California?
As I begin to analyze properties - small, multifamily - in the LA area, none seem to be "passing" the 2% rule.
A guy in my real estate investing program (which I now regret investing in) moved out of California to begin investing in Texas because he "couldn't find any profitable deals" here. I definitely don't want to leave LA.
How do experienced investors in California proceed when rents well exceed 2% of the purchase price of properties here?
Any advise or feedback would be gratefully appreciated.
In advance, thank you!
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