New Member Mike in LA - Where to Start?

[Mike Spitz]

Hi All,

I've got around $300K liquid. There are so many ideas out there, I'm not sure where to start. Ideally, I'd look to pick up cash flow positive properties that wouldn't drop too badly in a crash.  I think my niche would be somewhere with decent schools and the property is fairly rent-ready.  I worry a lot about doing rehab at a distance because I have no control and costs could go way beyond estimate. 

I own a rental in Gilbert, AZ that's done well on appreciation, but is cash flow neutral as I pay extra each month to shorten the payback period.  Is this stupid?  When I bought, I was definitely inexperienced and still am to an extent.  Still, it's been a very healthy investment.  I also have an owner carry in Vegas.

Mike

[Doug McVinua]

@Mike Spitz Happy to see the Gilbert, AZ has worked out well for you. It actually sounds like it is cash positive but you have chosen to apply it towards the principal. A great idea when you can and should you fall on hard times you could stop the extra towards principal and be cash positive.

The Phoenix, AZ metro market is still doing well and the experts predict that to continue. As you know appreciation has been great and as such the area we are having the best purchase results are more perimeter, like San Tan Valley, Maricopa, and even Coolidge. Demand in San Tan Valley and Maricopa are strong today with Coolidge being a little more of a gamble based on growth projections etc. Coolidge has a couple of very large manufacturing facilities that have started construction and could bring thousands of new jobs and a significant change to that market.

Multiplex would be another option you might consider!

Happy to provide some insight into the Phoenix, AZ market for you. I live in Gilbert, AZ so let me know should you ever need anything for that property, a vendor, a drive-by, whatever.