Newbie Intro - Los Angeles multi family investor...

[Donna Arrogante]

Hello investor friends! Though I'd finally introduce myself after poking around for a few weeks and also ask for some advice. 

I'm Donna, I'm passionate about creating passive income streams, attaining financial freedom, personal development, entrepreneurship, breaking through scarcity mentality and creating a life with MORE fun, creativity and freedom!!

I am planning (anxiously) to purchase my first multi-family property. I plan on house hacking it to get rid of my rental expenses. Nothing excites me more than doing this! I see this as a better investor style for myself. I've invested in my very first SFH 2 years ago and it's cash flowing ok... but after doing the math, especially after listening to the Clayton Morris' interview about finding your "Freedom Number", and also because I have the urge to get rid of my rent payment, I think house hacking every year or two, for a few years utilizing the FHA loan will benefit me more and help me get to my freedom number faster.

I'd like to know if there are any investors out there who's house hacked in Los Angeles?? If so, I'd love to learn any insights you can share with me. I am looking to invest around Lawndale (ideally) and most likely in South LA or a little east of the 110 Fwy because it seems like that's where my income will allow me to purchase. 

Also, do you have an FHA loan expert you can recommend so I can ask my questions in order for me to be in the best position to reach my goals?

I have a new full time job now, and also have a side business helping solo entrepreneurs with branding and web design. I currently live in West LA, where rents are ridiculous, but I work in Marina del Rey, so I have to be kind of nearby. I don't mind commuting after moving into a triplex, it has to be WORTH IT!!!

My plan right now is to stay here at my apartment until I have enough cash for the down payment, closing costs, mortgage insurance and repairs. I think I will be ready around January. I've been using FHA mortgage calculators online, but I'd really like to speak to a loan expert to know where I stand and how to get to my goals. 

Thank you all. I'm so grateful for this community, all the generous shares and inspiration. Because of this community, I feel like there's more purpose in my life and that it's possible to reach financial freedom one step at a time! 

[Kiersten Vance]

Hi @Donna Arrogante! Welcome to BP and congrats on the first purchase. Thats great. House hacking is a great way to get into investing. We did it with our houses in Glendale, Loma Linda and even Napa Valley. I have a lender I can send you the information for if you send me a PM. @David Dye is also a lender here on BP that might be able to help you with the FHA questions. Let me know if you have any questions about the market or multi-units. I bought an 8 unit apartment complex as my first investment and have loved it!