Invest in Southern California?

[Trevor Jones]

I live in Simi Valley - about 40 minutes NW of Los Angeles, so real estate isn't cheap around here.

I'm a new member, and have listened to about half the podcasts. Fantastic info for sure.  However most of the time, the numbers they talk about aren't remotely relevant to my area.  The 2% rule for a rental!  Not even close!  A basic house around here costs about $500,000.  There is no way it would ever rent for anything close to $10,000 per month.  Closer to $2200-$2400.

As far as flips, its a similar situation.  You might be able to find a run down 3/2 for $350,000 in a ghetto neighborhood.

So my question is, as a newbie, is it possible to be a successful investor in Southern California?  I'm sure it IS, since there are a ton of properties being rented out everyday, so someone is doing it!

Is anyone on BP doing it, and staying in or near the bigger cities?

I know I could find less expensive properties as I get farther from Los Angeles, but I'd like to stay as close to home as possible.

Any input would be welcomed!  

Thanks,

Trevor