Starting out in California

[Nenad Sapungin]

Hi Everyone,

I was wondering if you could help me out with getting started in real estate investing in California. I am a recent college graduate and i am currently employed with a steady income. I would love to purchase a single family with a buy and hold strategy. The only problem is I live in San Diego and I feel that everything is so expensive nowadays making it hard to break into real estate investing. I would likely have some support from my parents but minimal support. Any ideas on how I can break into the investing world?

[Dylan Vargas]

@Nenad Sapungin Welcome aboard! It may just be hard for you to break in. However , can you live anywhere in San Diego that your income would support your mortgage? Is your job or industry secure in the event you lose your job at your current company? What would be the worst case scenario to survive? In other words could you rent out a room or two to cover mortgage until you could sell or find another job. Depends on your income and future income as well. Look for an under priced property in an up and coming yet not dangerous area. No matter if there is a bubble or not you should be ok with payment etc. Rates are really low man. A $500000 home would be what, $2000 per month? As long as you have some savings for repairs etc you will be ok. Also I am sure you could get a decent home for $400000 or much less. Thinking out loud here.