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Updated over 1 year ago on . Most recent reply
![Neil Patel's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2774518/1695159974-avatar-neilp108.jpg?twic=v1/output=image/cover=128x128&v=2)
Visit LA regularly for work. Dumb idea to buy something to rent out when not in use?
I'm hoping your expertise can set me straight!
I'm a
mid-career professional living in the Midwest with my family, but visit
Los Angeles 5-6 days/month for work. This will not change.
Instead
of ubering/hotels when I visit, I have an apartment in LA, and a car
I keep there. I understand that is wasteful from a 'bottom-line' point
of view, but it makes it so much easier to deal with the travel when I
have my things on hand.
Instead of throwing away money on
rent, I was thinking about buying a property I could use
when visiting, and rent out when I'm not there.
I know STR in
Los Angeles is very difficult to pull off. Further, I know that
'investing' in LA is not the best use of my money.
But, is there some way to make this work? I am currently 'losing' a few thousand dollars/month on rent, so anything close to breaking even would be fantastic, plus potential appreciation. If STR is possible, I would not want to self-manage.
additional info:
- logistically, would be ideal to be in the south SFV or north 405 LA corridor (brentwood, culver city, etc). I could stray from that a bit if necessary.
- I would be willing to put in around 200k cash. I have excellent credit.
any other info I am happy to offer if needed. Appreciate any guidance you all can provide!
Most Popular Reply
![Ned J.'s profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/831532/1694559586-avatar-nedj1.jpg?twic=v1/output=image/cover=128x128&v=2)
Id invest your $$$ in the midwest close to home and use the $$ to expand and fund the trips to LA.
OOS investing is always a challenge and the are of LA that you are trying to do this is is expensive and a real tough market to make cash flow. It may pay off in long term appreciation