The chicken or the egg???

[Josh Cohen]

Hi BP Friends, I'm just starting out and I have a question about where to start. First off, I live in Los Angeles where real estate is not cheap, in fact it's currently outrageous, but it's our home, we have family, work etc.... we aren't leaving any time soon. My wife and I would like to own our own home, and I am very interested in getting into investing, possibly in a neighboring city for the better pricing. For our first purchase we can do 10% down, which seems to make better sense for a local home to live in as opposed to using on an investment property, but I don't know if we'd be able to buy an investment property after the down payment in a L.A. Home. Any advice would be really helpful. Thank you!!!

[Tim Ryan]

Look for a rental property outside of LA but driving distance. Buy it right, with positive cash flow (which is why you need to be a couple hours out of LA).
Then save for your own home over next few years.
With this you will be WAY ahead of others your age. Busting your *** for your primary home is a lie of the American Dream.
Let's make the American Dream financial freedom - not financially strapped.