33 and getting into real estate in an expensive market

@Paula Trepman,

Thanks so much for sharing, and welcome! You’re asking all the right questions and clearly thinking long-term, which puts you ahead of the game.

Given your situation - a temporary move to an expensive market, high-earning but time-constrained professions, and a solid investment budget - here's a balanced way to look at your options:

1. Buying a Condo in LA (Westwood/Santa Monica)

**Pros:**
* You build equity instead of paying high rent.
* Potential tax deductions (mortgage interest, property taxes).
* May be rentable when you leave, depending on HOA rules.

**Cons:**
* Short time horizon (3 years) means high transaction costs (agent fees, taxes, etc.) may cancel out appreciation gains.
* Holding risks if the market slows or rent doesn’t cover expenses post-move.
* High insurance costs (fire + earthquake), and maintenance risk in older units.

If you do decide to buy, make sure the property could work well as a long-term rental after you leave and check HOA rental restrictions closely.

2. Long-Distance Investing in More Affordable Markets

This may be a better fit given your goals and timeline.

**Pros:**
* Much higher cash flow potential (especially in Midwest or Southeast markets like Alabama, Missouri, or the Carolinas).
* Lower entry cost per door, allowing diversification.
* Turnkey options available - professionally managed and renovated properties that let you be hands-off.
* Great tax advantages and long-term growth potential.

**Cons:**

* You’ll need to vet markets, teams, and property managers carefully.
* Slight learning curve (but manageable, especially with support).

This strategy gives you income and asset growth now, without being tied to the volatile LA market.

3. Hybrid Strategy (Live + Invest)

One option: rent in LA for maximum flexibility (since it’s a 3-year stint) and use your capital to start a long-distance rental portfolio in more stable markets. This approach:

* Keeps you geographically nimble.
* Builds long-term wealth and passive income.
* Avoids the risks of short-hold ownership in LA.

Given your stage in life and schedule limitations, I’d lean toward passive real estate in landlord-friendly, affordable markets. You’ll gain experience, cash flow, and long-term equity - all without the volatility or effort of being a hands-on landlord.

You can always reevaluate later and buy in your primary market if it makes sense. For now, the goal is to get your money working for you without tying up time and energy you don’t have.

If you’d like, I can help you break down a few sample markets or share what a realistic turnkey property looks like - always here to help!

You’re in a great position. Excited for your journey!

Best of luck,

Melissa