new investor from SoCal (southbay)

[Richard W.]

Hello BP,
Ive been lurking on the site for a week and making my way through the the suggested reading. What can I say, Im a bit overwhelmed at realizing how much I dont know. I bought a SFR in Oklahoma in 2005 and was fortunate to have a great tenant all this time. My tenant will be moving out in May, and my PM has told me the rental market has gone soft due to the fact that the local Army base has built alot of units in the last couple years and is aggressively marketing them to their troops. Looking back, I see I should not have payed retail for an investment property. There has been very little appreciation in the home, even though its in a good neighborhood and the CF is about break even. I want to acquire a 4-plex in TX or other landlord friendly state and ride the cash flow wave to paradise....am I late to the party? Can I make it happen while holding down my day job?

If anyone needs some boots on the ground in L.A. please connect with me. I spend alot of time in the south part of LA County traveling around for work. I would enjoy helping someone out while learning from them as well in order to make it a win-win!