Buying (or not) in Los Angeles. Help!

[Neal Daniels]

Hi everyone.

I'm brand new to this forum and very new to the real estate world.  

As a self-employed musician, I finally have 2 years of high tax income being shown, and I have some cash to buy now in Los Ange.  Also, Pre Approved.  I managed to get 2 years on a W2.

I'm looking in the range of $300,000 - $450,000 range, condo, townhome etc. House would be preferred but not for my price range.  Preferably looking in east LA, anywhere from Koreatown all the way to Azusa.

I wanted to ask if you think it's a good time to buy in LA.   Everyone is telling me, "if you can do it, do it" but I'd like some real opinions here.   

I'm looking at this strictly as a business and am looking to make as much profit as possible, obviously.

Any insight on great upcoming areas, or any advice on when or how to do this PROPERLY, would be so appreciative.

Thank you!