All Forum Posts by: Jack Sun

Jack Sun has started 1 posts and replied 3 times.

Originally posted by @Nicholas Smith:

I'm a little biased, but I would vote for Long Beach. Our city is going through some great up-scaling and revitalization that will contribute to appreciation growth. Plus, it's just awesome to live here! My business is in OC (Newport Beach). Some areas a good in that price range. Just would not recommend it as much as the LBC. If you ant to try for a little more cashflow, you might consider San Pedro. It's a working town that serves the port and surrounding business, but it is also going through it's own revitalization. There is a cute little area near the ocean that has some small homes for good opportunity.

LBC/San Pedro is definitely ideal if I stay in the LA area. Curious what your thoughts are on condos in LBC? I know they aren't great for cashflow and I need to do a ton of DD on HOA/management policies but buying a bit cheaper makes me feel a bit more comfortable from a reserves standpoint + not having to do major renovations on my first buy.

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Originally posted by @Lee Ripma:

@Jack Sun

Where do you WANT to live? I'd take a look at these markets that are appealing and see what your purchasing power is there and how that aligns with your goals. It's possible to be under 550k in SoCal-especially with SFH with a place like long beach BUT maybe this is your chance to go to an area or market you're excited about. Lots of markets where you could do the house hack duplex to quad thing for 550k or under. I was just looking at an awesome quad in Kansas City in a prime area (cheaper ones outside of the prime area) for 450k. You could buy that, live rent free, save your cash, explore a new part of the counrty. Doesn't need to be KC but maybe a market you're excited about with 2-4 units that will allow you to live on very reduced rent. Do it because you're excited about the area and the opportunity though.

Thanks for the reply Lee. That's the million-dollar question right now haha, I'm definitely open to relocating... just not sure where to.

I think it'd have to be somewhere within sensible driving distance to SoCal, going to look into Las Vegas & Pheonix a bit more. The midwest is definitely appealing bc of cashflow reasons, just worried I won't be able to find work in my current field out there (Cryptocurrency). My current day job is guaranteed stable up till Nov 2021, it's a coin toss after that :/

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Hi Everyone, I'm just getting started on my RE investing journey and would love some feedback from the community. Sharing some context below followed by a question that has me stumped.

Context:

Pre-Approved for 550k (Owner Financing)
Work has gone full remote so location is flexible
I'm working towards the buy/hold strategy... goal is to move every 1-3 years and build up my portfolio
Interviewed 3-4 agents in LA county and I currently have my eyes set on Long Beach & North OC
The main reason I've focused on Long Beach & North OC thus far is due to familiarity. I could find good friends to move in with me in both of these areas, whereas I'm less familiar with the rest of LA as a result of working/living in SF the last 2 years.

I fully understand that cash flow isn't likely especially with my price range in the SoCal market. Originally the plan was to get into an SFH or duplex and househack so I can minimize mortgage payments and start building some equity.

However, with work being remote now I'm wondering what more experienced investors would advise in my particular situation. Are there better locations within LA County I should be looking at? Or should I move to a market with lower barriers of entry and look to scale up faster ie. Dallas/Las Vegas?

Let me know what you think, appreciate it!!

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All Forum Posts by: Jack Sun

Jack Sun has started 1 posts and replied 3 times.

Post: Pre-Approved in CA.. Need Feedback

Post: Pre-Approved in CA.. Need Feedback

Post: Pre-Approved in CA.. Need Feedback