All Forum Posts by: Austin McAnena

Hey BP. I'm a new investor, initially started on BP 3 years ago but took an unintentional break, now looking to start analyzing properties and better understanding the Palm Springs market. I've done two hard money loans recently and am now looking for short or long term rentals to build some equity. As I'm currently working full time, a long term rental seems more attractive at face value, but I've heard Palm Springs can be a great STR market as well.

With the right setup I think both are great options, but curious to get other insights and perspectives on pros/cons for both. I've also heard some of the cities in the area are tightening up restrictions on STRs which is definitely a major consideration.

@Account Closed I am looking into MHP and am curious if you are investing out of state? Since you're from Orange County with the high costs, I'm curious to see what markets you are focusing on.

@David Thompson David thank you for the thorough insight, I really appreciate it. I'm not very familiar with syndication deals so I will have to start doing some research (minimum investment required, type of returns, etc.) to see if that is a good opportunity to pursue for my situation. It's nice to know there are options, including passive options while focusing on choosing and solidifying a niche.

@Taylor L.- Thanks for the response. I will need to raise capital once I get started but my current focus is identifying my niche so I can start looking for the right deals. Once I get that nailed down I can start looking to raise capital.

@Craig Curelop- Thanks for the insight, much appreciated. With a buy & hold focus, would you recommend staying in a market close to home or take a risk out of state?  The challenge with the Orange County market is price (difficult to find any single family property under 500k) and minimal net income per month. Out of state can be multifamily available from 300-500k, but the challenge is managing that property.

Hey BP,

I'm new to real estate investing and BP, but excited and ready to learn!  As I've started researching and reading the beginner's guide, podcasts, blog posts, learning from mentors, etc. I find myself torn on how and where to begin.  I have a full time job in nutrition and healthcare (which I love) as a marketing professional with previous sales experience in the field. I want to build financial freedom outside of my day job by generating passive income and looking for the right opportunities. I live in south Orange County, CA where I know real estate isn't cheap.

I have good capital saved up and access to possible investors. I received advice to start investing in a market close to home where I'm comfortable and can visit frequently. I've also been given advice to invest outside of CA based on pricing and better opportunity for higher ROI and cash flow. The challenge would be the travel back and forth with a full time job and learning new markets. I've evaluated different types of investments and tried to narrow it down.

My initial thought is to focus in Orange County and look to flip single family homes, or buy and hold condos/single family. The short term cash flow may be less but it seems to be a strong market based on location for the long haul. The other idea is to look for multifamily investing outside of CA in markets like Texas, specifically looking into mobile home parks based on lower cost and higher cash flow. I have mentors who are successful with both strategies and hoping to receive more direction.

Any advice or insight is much appreciated!