Finding The Right Niche

[Austin McAnena]

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!