Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated over 6 years ago,
First Hack in Los Angeles
Just made my first post here to introduce myself so won't go into that too much, but I'd like to start this post with this question, and elaborate on it a bit below: Is it feasible for a first time investor to start investing in Los Angeles real estate?
My business partner and I will be using our own funding and creative financing to purchase our first hack (we are currently renters). We live in Los Angeles and rent a nice enough apartment, but housing prices are sky high. I have a full time corporate job here with a salary that makes it hard to justify walking away from. Ultimately (and hopefully in the near future), walking away from this 9-5 is the goal, but first we need enough cash flow to do that.
With that being said, my current predicament is this: It seems very difficult to start investing in LA because the only multi family homes under 400k are in VERY undesirable areas, but this is where my job is so I can't leave town for a more desirable place to invest in real estate.
Final Question: What would you do?