Intro from Los Angeles

[Matt Mason]

I have been reading the BP blog for a while and now started looking heavily at the forum discussions so I thought it was time for me to create a profile and introduce myself.

I have a tri-plex and a four-plex in Los Angeles purchased over the last several years. Initial cash on cash returns here are lower than say the Midwest, but I like my deals and feel good about the two neighborhoods continuing to gentrify and there is quite a bit of value I can add here as well, which I have started to do. Even though I have a good property manager I trust, I am pretty involved in looking after necessary details.

Anyway, given that I now have a fair amount of real estate locally (including my townhouse) and the market is even tougher here now, I want to branch out and diversify some going forward. I am pretty leery of owning real estate outside my local area, but may try to do something small initially in the future either out of state, where I'd probably have to go with a turnkey wholesaler or Bakersfield, which I like for a few reasons (and I can drive to).

Outside markets I plan to look into are Indy, Dallas, and Houston. I work a full time corporate job, but would like to network with local investors who invest either locally, Bakersfield, or out of state.

[Mehran K.]

A big welcome to BiggerPockets Matt Mason from an L.A. local.

It's funny, I'm completely the opposite right now. I prefer to invest out of state rather than in this area. The idea of Rent Control and the fact that if a smart tenant files bankruptcy they can stall evictions for 9-12 months just turns me off.

It's great to have another active investor join our ranks. I hope to see more of you around the forums man! If you have any questions, don't hesitate to ask. See you around!