Looking to get into real estate investing

[Sergio Serra]

Hi everybody!

Very excited to join this amazing community. I have been living in Irvine for a year and I am looking to buy a duplex or triplex towards the end of 2020, so that I can house hack (I am currently renting). Since my job gives me relatively good flexibility, I am wondering where in this area (greater Los Angeles) for me it would make the most sense to buy. I believe Irvine is not as good as LA, since my goals are the following ones:

- YoY appreciation.

- Positive monthly cash flow.  

- Not looking for a strict Cash on Cash return, but anything above 7-8% would be ideal.

Specifically, I would like to loan and put down 3.5% by living in one of the units for a year and then possibly replicate. I believe my buying power would be around $700-750K for this first purchase (meaning, I would like to put down a max of $30K). I am still in the process to engage with the lender, but wanted to understand your opinion on whether it makes more sense for me to look into LA or stick with greater LA. As I mentioned, I am now in Irvine, but would like to move to LA. However, given my above goals I am wondering if you believe any other area around to be worth more. Please, keep in mind I am single and can move around.

Finally, I would love to get any suggestion above the best books/readings to get me started with this super interesting investing journey.

Thanks,

Sergio