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Colleen Keenan's profile image
Colleen Keenan's profile image
Colleen Keenan
  • Real Estate Agent
  • from Los Angeles, CA
  • Member since Nov 2, 2019

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Colleen Keenan's profile image
Colleen Keenan's profile image
Colleen Keenan
  • Real Estate Agent
  • from Los Angeles, CA
  • Member since Nov 2, 2019
Colleen Keenan
  • Real Estate Agent
  • Los Angeles, CA
3
Votes |
8
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Real Estate Agent

first time investor buy and hold in CA

Colleen Keenan
  • Real Estate Agent
  • Los Angeles, CA
Posted

 I am a new agent in Southern California and I have a friend who wants to purchase an investment property locally where we live (redondo beach, hermosa beach, torrance). This market is very expensive and she plans to finance the purchase, but when I run the numbers it is around $2k of negative cash flow. How can I make a purchase in So. Cal near the beaches work for her without significant negative cash flow and still allowing for financing use?

Los Angeles County, California
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Peter Mckernan's profile image
Peter Mckernan's profile image
Peter Mckernan
  • Residential Real Estate Agent
  • from Irvine, CA
  • Member since Mar 28, 2013

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Peter Mckernan's profile image
Peter Mckernan's profile image
Peter Mckernan
  • Residential Real Estate Agent
  • from Irvine, CA
  • Member since Mar 28, 2013
Peter Mckernan
  • Residential Real Estate Agent
  • Irvine, CA
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Peter Mckernan
  • Residential Real Estate Agent
  • Irvine, CA
Replied
Quote from @Colleen Keenan:

 I am a new agent in Southern California and I have a friend who wants to purchase an investment property locally where we live (redondo beach, hermosa beach, torrance). This market is very expensive and she plans to finance the purchase, but when I run the numbers it is around $2k of negative cash flow. How can I make a purchase in So. Cal near the beaches work for her without significant negative cash flow and still allowing for financing use?


 Hey Colleen, you should take a look at duplexes and triplexes. House hack those, you will have the ability to get a higher approval, you will be paying a portion of the mortgage; however, after a couple years and after you move out you should be cash flowing. 

  • Peter Mckernan
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The McKernan Group
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