Newbie in Los Angeles

[Mike M.]

Born and raised in Minneapolis/St. Paul, went to school in Milwaukee, lived in Chicago for 9 years, moved to Los Angeles in 2017. I'm a CPA that focuses on tax structuring, due diligence and contract negotiation at an investment firm and have always considered investing in real estate. A few months ago I started reading some real estate investing books and after leaning the basic math I started seeing what it could do for my future wealth projections. I now officially have the itch. 

I'm interested in buy-and-hold rental properties and currently researching markets outside of Los Angeles for one that fits my strategy. I have some capital and a financial/analytical mind, but very little experience in real estate. Would like to begin investing in the next 6 months and buy a few properties per year. Using the 10x rule, I'll say I'd like to retire with 1,000 doors in 25 years. 

[Carla Carvalho]

@Mike McNeil-Leier welcome to the party! You will do well here. Don't give up on LA- there ARE opportunities. Buying local does have advantages, what you lose in return, you may gain in sanity. I live near SF and seeing no hope around here, looked at LA. In 11/2018, we found a gorgeous SFR in Studio City making 8% CoC with great upside. You need a motivated seller and be ready to pull the trigger on short notice.