New real estate investor

[Vicky Liu]

Hi guys, I’m very new to real estate investing so I thought I’d introduce myself.

I live in Los Angeles, CA. With the low interest rates because of Covid, I have been actively looking to buy my first primary residence. My mindset was that I need to take care of my living situation first before I think about investing. However, competition is no joke. I found myself offering 70k above asking and still not making to top three. I’m a bit frustrated but now I’m thinking my money will work better out of state. So I’m gonna purchase investment properties first before I can afford to buy a home in LA.

Currently I’m looking at Birmingham, Jacksonville, and, Nashville. My question is are markets outside of California as competitive as LA? Being first time investor out of state, how do I learn more about local areas? Are there more markets I can research for?

Thank you very much for taking your time to read my post. I hope to connect and network with you.

[Jane Nnaji]

Hi Vicky, 

I am new in investing and bought my first home in LA, which i'm house hacking. I don't know a lot of information but just wanted to tell you the little i know. 

I am interested in Austin market, which is also competitive and people outbidding others haha, so just getting more data and running numbers for now. BTW i created a keyword alert here for Austin on the forum and on the event session you can click and search for virtual meetup groups for that city, which is a way to connect and learn more about the market. Also planning a  weekend trip will give you a vibe of the city/surburbs.