First Investment Rental Property

[Mariah Jo]

Hi everyone! I’ve been browsing through different threads on here and thought it might be worth posting my own (to get your expertise).

My partner and I have $270k in cash and are looking to invest (for the first time) in a rental property. We want it to be located somewhere that we could live in a few months per year.

We are super interested in Los Angeles, Santa Barbara, or Hawaii… (and I know you’re probably laughing right now because all of those places are well over $270k). Would any of you have advice for how we could get a property in those places with this budget? Or would you suggest another beach town that people want to vacation at/would be interested in renting an Airbnb at?

Thanks in advance for your help! 

[Jacob Maes]

Those are all great places, I used to live on Kauai and miss it some times for sure. I'm curious though, Are you looking to do 270k cash only or are you looking to use a lender? With a lender you could definitely make some moves but if you are looking to be 270k cash only, would be pretty tough.