Starting out in rental property investing in California

[Ernesto Uribe]

Hi I’m 22 years old live in Orange County CA and I’m trying to figure out how to start out on Rental property investing in California. I have about 30k to invest but I’m just not sure how to start.

[Anthony Dooley]

You start by figuring out if this is even possible in your area. There is a shortage of inventory nation-wide at the moment. This has caused a construction boom over the last 4 years in almost every state, except California. Why? Because state and local laws and  restrictions on new construction have made it very difficult to get approval for new construction. It also makes it 30% more expensive because of solar panel and other state requirements. The low inventory and lack of new construction have caused the prices of existing homes to skyrocket. Therefore, buying a home at retail price is very difficult, much less buying at a discount in order to make it cash flow. If I lived in Orange County and I wanted to become very rich, I would simply run for public office.