Is buying a condo in Los Angeles a good investment?

[Marcus Tam]

I'm looking in the WeHo / Bev Center area and while this condo would be a primary residence (for a few years at least), i still want it to be a solid investment. But I know finding a condo that cashflows is extremely difficult in my area / LA. Would it better for me to just continue renting and invest my money elsewhere? 

If i were to buy, I would look at two-bedroom properties under $750k and plan on putting around $50k for renovations. My total monthly including HOAs will be about $4500. down deposit + $50k for renovatoins = $200k

If i were to rent (assuming same quality as the one i buy), that'd cost me about $3600. 

[Nabil Suleiman]

@Marcus Tam @Jeffrey Chen

You guys also have to factor in your current living expenses vs what your expenses would be buying and the PITI/ equity difference in comparison to your rent.

No matter what it’s a risk, by buying something under market and in need of repair you are providing a gap to that risk and a potential line of profit if you can build equity through appreciation by living in it for 2+ years. 

Otherwise you are going into analysis Paralysis, thinking which investment would be better and waiting until you find that perfect one. 

If you don’t have time for it or prefer to rent, go passive and find an investment that gives you a return one you are satisfied with.