Semi-Newbie in Southern California

[Jenny Kim]

Hello BP Community!

I am Jenny Kim.  I have my primary residence and one rental property in the Los Angeles area.  

I say that I am a semi-newbie, because I already have one rental property (which was a condo I used to live in), and I think I have made all the mistakes possible with it.  I am in the middle of a refi now on it, which will put my in positive cashflow after about 4 years of renting it.  I also say that I am a semi-newbie, because I have so much to learn.  

When I moved out of my condo into a single family residence, I decided to rent out the condo on the thought that it would be a good idea.  I did a little research and hired a management company.  It wasn't the smoothest experience with either the management company or my first tenant.  I was about $300 out of pocket every month, my tenant was high maintenance, and my management company wasn't the most communicative (or effective).  But, it wasn't so horrible that I decided to give up real estate investing completely.  Now, I have a new management company, a great tenant, and the refi will put me in positive cashflow (probably about $50/month).  

On the flip side, my primary residence has gone up in value about $175,000 in 4 years (YAY!), and now I'm thinking about my next investment steps.  Wanting to do things "right" this time, I searched the web and found Bigger Pockets.  So glad!!  This community and the podcasts are amazing!

I am looking to purchase Buy and Hold investments.  I would like to get into multi-family and apartment complexes.  I like my neighborhood (and SoCal), but right now, it's too pricey for my budget.  So, I am looking outside my "neighborhood."  I have family in the Chicago area (also pricey), so I am looking there as well as in other more affordable locations.  I will be posting a question on the forums asking how to vet a neighborhood as soon as I am done posting this.  

Thanks for listening BP Community.  I look forward to meeting you!

-jenny.