New member from Santa Barbara, Ca

[James M.]

Hello,

I'm a young (late 20's) IT professional looking to expand my investments beyond index funds, but faced with a bit of sticker shock when seeing real estate prices in my local area.  I've always had an interest in investing in small 2-4 unit MF buildings, but don't see how it's possible in my area for a new investor.  I've heard the majority of sales in the area are purchased with cash, and while I have a decent amount of liquid cash available, it would be a stretch for me to make a 20% down payment on anything here besides a manufactured home or a condo.

Looking forward to learning how one can get started in what seems to be a very crowded market.

[Allen Maris]

Originally posted by @David Tipton:

I feel your pain. It's a tough market out there. Have you looked out toward Santa Maria/Lompoc? I haven't looked that far north but I would expect to find lower priced investment property out that way.

 Hi James,

Welcome. I'm over the hill in Santa Ynez, so I face the same price problems. As David said, check Lompoc & Santa Maria, and further up north. Much better pricing, but you won't see the appreciation or rents that you get in SB.

Best,

Allen