New Investor Seeking Multi-Family Residential

[Jeff Alpert]

I am a long-time lurker on BP and am ready to make my first investment in multi-family residential (2-4 units). My home market is Los Angeles, which I have been monitoring on MLS for the past few months and the numbers just haven't worked out. It seems impossible to buy anything that has neutral/positive cash flow since asset values are so high.

My gut reaction is to go out of state and buy in markets that are better for investment (Salt Lake City, Texas, etc.). But, as my first investment I understand the risks with managing out-of-state. I have worked hard over the past few years to save over $100k, which I plan to use on a down payment. 

I am open to all advice and look forward to connecting with people both in Los Angeles and other markets. All advice is greatly appreciated and I look forward to hearing from BP! The dream is to make a purchase in the next 0-6 months!