Question is this. I am a LA resident and love LA but do not mind relocating if I have to for better long term results. If you were in my shoes and you were getting into real estate full time as I am would you:
-stay in LA and just focus on wholesaling since the market so expensive to rehab and flip? or would you consider partnering up to rehab and flip?
-focus on Inland Empire where I could basically do exactly what I want to do which is do light rehab and flip on the really good deals I get and wholesale the slimmer one's for a fee
-move to Phoenix and basically have the same strategy as for Inland Empire. I do have some good childhood friends in Phoenix and I am not crazy about the weather and location but I think for investing it does make sense
I generally like Phoenix more than IE since it is a major growing metropolitan city and I believe will have a lot of deals coming up there again soon with all the out of state investors jumping in there.
Not too crazy about land lording. Specially in this market and the run up we have had. No way would I be doing any kind of buy and holding right now. Only flips.
Would like to eventually move into buy and hold down the line and I believe Phoenix would be a good market for cash flow. Just not right now.
Phoenix is a great place for investing in real estate for cash flow or even flips. That being said you can be successful in any of those markets. Some will just be more difficult. I recommend Phoenix as a safe bet for real estate since it is one of the fastest growing cities here in the US and doesn't have as much red tape as in California.
I would back up a little and first figure out which route of investing you want to do. THEN decide where to do it. If you decide what kind of investing/work you want to do simply based off what is available in a location, it will never work. Either you won't like it, it won't resonate, or who knows what. Decide what you want, concretely, first and then deal with location.
I want to find deals for myself to rehab and flip, I guess I could do that if I focus on the lower end neighborhoods around la
Really don't want to wholesale
I've done two flips before and I really love doing it
Not big on IE either
I've done all cash before but now I would need help so I guess first thing is to set up hard money
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