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Updated over 6 years ago,
New here and looking to start either in LA or out of state.
My husband and I are looking to start out in buy and hold. The problem we are having is whether or not to invest where we are or out of state. We live in Los Angeles and real estate just seems so unobtainable out here. We have saved 30k so far and can possibly double that as my dad is willing to invest with us if the deal is good. We are looking at a duplex to 4 unit buildings in the range of 500k-600k but not sure if only 10% downpayment will cut it. We wouldn't mind house hacking if possible though.
Anyone have experience starting out with low downpayment in Los Angeles? We have full time jobs and decent credit scores lowest being 700.
I am just not sure how to start or where to look or what to look for. I am currently reading Brandon Turners book The Book on Rental Property Investing and scouring bigger pockets for more information.
Would investing out of state be a better start since our money would stretch further? Or should we keep it in Los Angeles to property manage better?
Any advice or information would be much appreciated.