Getting Started with Rental Properties -- Palm Springs Area
Hey Everyone,
I'm just getting started here and currently don't own any properties. I'm definitely a "n00b". I have a full-time job and my short-term goal is to get my feet wet and have a property that generates cash flow of roughly $800/month, on average, after expenses. I'd like to build up a cash reserve through this first property so I can re-allocate the cash flow to additional properties in the future.
The reason I'm looking into PS is because I live in LA and it's a relatively close proximity, with seemingly good short-term rental demand throughout the year (although mostly during winter and spring months).
I'm wondering if anyone has any experience in this market? Specifically what the demand looks like and what to expect in terms of seasonality. I also understand that certain areas have short-term regulations (specifically Palm Springs). Others like La Quinta, PGA West, etc. have looser restrictions which is where I'm targeting.
Thanks!
JT