Investing in CA markets, Mulit Family Units?

[Kosta A.]

Hello BP family,

Getting starting isn't a fun topic but a necessary one. I'm in San Diego, CA and looking to buy my first property. It seems like a lot of people agree that big cities in California don't produce a positive cash flow from SFR, so investors aim for appreciation in rent or equity. I'm interested in buying a multi family unit. It seems like a smart choice to make and a no brainier if there is a good deal. My ducks are from from being in a row but some of them are quacking. I need some help and advice on getting started.

For starters is their any value in trying to be a PM for a multi family unit or for an investor to get some experience before investing in your own property?

[John Slater]

@Kosta A. Hi. Multi Family's can be a good cash cows for sure, the challenge is it seems everyone wants to get in to that business and with So.cal being so expensive, it isn't the easiest place to start. Of course it all depends on where you're at personally. I started with a few flips, wholesale deals, put some experience under my belt, and capital, then bought my first rental. It's a SFR but it cash flows because we bought it creatively. Some argue it's better to look for cash flowing out of state, but that requires more experience and more back up cash in case something goes wrong, however having a good PM company would help. Do you have experience in the business?