Any LA Rental Income owners? Looking to invest 1st property
My husband and I decided to look into purchasing a multi family home using VA loan somewhere in LA county or San Bernardino County. We are looking into a tri or quadplex to start off our investment in rental income properties.
Is it a good idea to purchase a rental properties instead of buying our primary residence? Or should we purchase our own place first? Also, I am worried about vacancies once we purchase the property. We will have some cash reserve set aside but I would rather just prefer to buy a tenant occupied property to avoid looking for new tenants.
How long does it take on average for those counties to fill up those vacant units? I know that certain areas are in high demand for rent but I just wanted to hear from an actual owners.
We are hoping to move our way up to owning an apartment complex within the next two decades. Will it possible in CA?
Thank you in advance!