Seeking advice : New investor in Los Angeles Market

[Colin Lee]

Hi BP members! Hello! I'm very new to the industry and trying to seek advices in rental property investments . From my brief study, cap rates ranges from 3.5~4.7% in general. Not sure if it's good time to invest or hold capital for downturn. New tax rate will bring down to 20% for LLC so it's a good thing but the price is high so wanted to see if it's better to hold my hat and learn more till we have the down cycle. In the mean time, I could flip few $500k houses to generate profits. Any comments or advice will be greatly appreciated. Also, is there a meet for Los Angeles BP members? Thank you very much!