Let's be real... is it viable to invest in Los Angeles?

[Stan Hernandez]

A popular and very expensive place to live for sure!

Reading a six page thread post while sipping on my cold brew inspired me to create my very first post on BP. 

So I have roughly $50k-ish in the bank and waited for 2020 to be over before even thinking about buying property. I have done quite a lot of research and came to the conclusion that using FHA, hacking SFH + ADU OR MFH will work for me. I can entertain the thought of using the BRRRR method but not sure yet.

Fast forward 8 months into 2021, I'm curious to see what people have to say about the market, specifically in Los Angeles. Should we wait until 2021 is over? Will the market crash soon? Will Dogecoin ever hit $1? LOL Would love to hear your input!

My current 9-5 will not allow me to invest OOS so that is out of the picture.

Oh and please keep your "leave Cali" comments to yourself! That joke is getting old :)

So let's hear, what would you do in this situation. 

Best,

Stan

[Shiva Bhaskar]

Originally posted by @Stan Hernandez:

A popular and very expensive place to live for sure!

Reading a six page thread post while sipping on my cold brew inspired me to create my very first post on BP. 

So I have roughly $50k-ish in the bank and waited for 2020 to be over before even thinking about buying property. I have done quite a lot of research and came to the conclusion that using FHA, hacking SFH + ADU OR MFH will work for me. I can entertain the thought of using the BRRRR method but not sure yet.

Fast forward 8 months into 2021, I'm curious to see what people have to say about the market, specifically in Los Angeles. Should we wait until 2021 is over? Will the market crash soon? Will Dogecoin ever hit $1? LOL Would love to hear your input!

My current 9-5 will not allow me to invest OOS so that is out of the picture.

Oh and please keep your "leave Cali" comments to yourself! That joke is getting old :)

So let's hear, what would you do in this situation. 

Best,

Stan

Stan, it's not only possible but very profitable. We buy multifamily properties here, and it's been an incredible experience. I will say it takes patience and capital, but a combination of favorable taxes, strong appreciation and demand makes it worthwhile. I think the costs and complexity eliminates many of the less skilled investors, so it's definitely a tough business, but yes, you can do it!