All Forum Posts by: Sam Michaels

@Twana Rasoul

Thanks Twana! I would love to buy in CA first as this would obviously be most comfortable for me and I could potentially avoid needing a prop manager if I lived in it or if it was close enough to handle. I was originally looking for a duplex or mother/daughter type property and am still very interested in that. Issue is that in the area that I would like to buy in, these types of properties tend to be either at the max price within my range or far above and I’d rather than over extend obviously. Do you have advice on where I could find this type of property in SoCal that would be a good investment but still reasonably priced? Under 600k? 

@Kirk R.

Thanks Kirk got that checked off the list so I should be ready to go if the right opportunity presents. 

@Tim Kendall

Thanks for the feedback Tim! Alaska is on my radar due to the favorable taxes and high renter to owner ratio. Seems like there are a lot of people coming in and out that just want to rent for a bit rather than buy. 

I’d be interested in Anchorage specifically. Im sure whether is still extreme there but is it largely septic systems there as well, or only in the more rural areas? Also, are there property managers out there that could help with weather related maintenance? Are property managers/maintenance too expensive because its so hands on in that market that its no longer a good investment? Thanks again!

Hi BP Community, 

I’m a first time home buyer and looking to start my real estate journey! I’d also like to take advantage of what seems like a good time to buy considering whats been going on with COVID and the economy. I live in Los Angeles and need to continue living somewhere in between Encino and Paso Robles and Visalia due to my occupation. I’ve been considering buying something in this region and living in it for at least a year to take advantage of the loan advantages and renting out my extra bedrooms to help cover the mortgage. However, real estate in California is expensive as I’m sure you all know and my understanding is that California is generally not the ideal location for income properties. 

This then makes me explore options in other states like Tennessee, Alabama, Texas, Alaska etc. where the prices are much lower and more likely to cash flow positive and the owner tenant laws are better for owners. Ive also heard of some great turn key operators in some of these areas that could make things streamline which sounds nice. In this scenario I wouldn’t live in the property obviously.

Should I buy in California and live in it and build equity until I can move that equity into purchasing another property possibly out of state, or should I just buy out of state off the bat? 

Any advice is appreciated. Thanks!

-Sam