STR in SoCal - best area

[Lucy Richardson]

Hi, I’m new to the forums and looking for advice on purchasing my first investment property. My husband and I have about $140k saved up that we could use for a down payment and closing costs. We are trying to decide if we should look for a cheap multi unit to do ltr or purchase a str rental property in a vacation market that we could self manage. We live in Orange County and would like to buy a place within a few hours driving distance. We’ve looked in Palm Springs but it seems very seasonal and hard to cash flow on top of a mortgage. Any suggestions for best markets in Southern California to purchase a str right now? We’ve just started looking at mashvisor to find comps but the amount of information and options can be overwhelming. 

[Lucy Richardson]

Hi thank you both so much for the advice. We just purchased our primary residence in Orange County in December so we got a taste of how competitive the SoCal market is right now in terms of contingencies, etc. Amanda, I really appreciate the offer to chat about options. I'll give you a call soon and look forward to connecting.