New Investor In Los Angeles, CA
Hi folks! My partner and I are just getting started, and I'm thrilled that BP exists! (I think I'm about 30 hours deep in the podcast already).
My partner is a software engineer who's handling capital generation for us with his day job, and I'm the investing education and leg work side of the team. Our initial focus is buy-and-hold rental cash flow, as I'll be first working to replace passive income from another business I'm currently closing. (about $2k a month).
We live in Santa Monica, and haven't chosen a market or niche yet. California seems a little brutal from a cashflow perspective, so I've started doing my practice analysis on properties in the midwest, but am totally open to alternate suggestions. Single family homes seem simplest, but I find myself really interested in small multifamily properties.
I'm about 2 weeks into my BP education, and am thrilled to watch the big holes in my knowledge begin to fill with learning!
Thank you all for sharing your guidance and experiences!
:-)
Most Popular Reply
Welcome to BP! You're right that it's difficult to find cash-flowing deals in SoCal but it can be done! Do you own or rent? Househacking is awesome to get in the game if you rent. Rents are high here, but at least salaries are high. With some good fiscal management, you and your partner should be able to put together enough of a down payment to househack in a short period of time.
Cheers!