@Jose L Aguilar Are you asking if you should buy older homes or new construction?

I am in the Los Angeles Metro area - I have experience investing in SFR from Cosmetic to New Construction.

I'm currently in school for Construction Mgmt. at Kennesaw State University (Go Owls!)

My name is Anthony Simco, I am a 30 year old new member with years of experience in development, architecture, project management and construction (SF,MF and Commercial).

Investment Info:

Large multi-family (5+ units) commercial investment investment in Houston.

Purchase price: $11,000,000

Cash invested: $3,500,000

https://www.biggerpockets.com/forums/517/topics/65581...

Hope this helps.Partner 150% OwnershipSelect ProjectAgree to Price of Offer and Other Conditions Submit Offer to BrokerAgree to Rehab Plan and Schedule Prepare Funding Opportunity Document Solicit Investors for FundingCoordinate Funding for the ProjectCoordinate Documents with Attorney for Funding Coordinate with Attorney Closing Dates and Fees Coordinate with Real Estate Broker on DetailsSecure Property Insurance and have Utilities Activated Secure Bank Account to Pay BillsPayments over $500 Require Approval of Both Owners Prepare On-Line Advertising for Property Available for Rent Upon Selection of Tenant Run Criminal and Credit Check Agree to Rent Amount and Security DepositProvide Updates to our Private Investors as to Progress of Project and Coordinate with the Bank on the RefinanceRequest Appraisal as soon as PracticalProvide Personal/Business Credit to Secure Refinance Close on Refinance Within Scheduled TimeExit StrategyPartner 2 50% OwnershipSelect ProjectsAgree to Price of Offer and Other Conditions Develop Plan for RehabDevelop Construction Schedule Develop Budget for Rehab Coordinate with Outside Contractors Initiate and Complete RehabLabor will be at cost as part of Participation to Operating Agreement Agree to Terms on Funding Conditions i.e., Interest Rate etcCoordinate Permits if Applicable with Government EntitySchedule Inspections and Remedy ComplianceSecure Certificate of Occupancy or Final Inspection Approval Both Members will Agree to Pay BillsPayments over $500 Require Approval of Both Owners Coordinate Showing Property to Prospective Tenants Select Prospective Tenants and Recommend to Member Agree to Rent Amount and Security DepositClean Up Property for TenantProvide Property Management and Maintenance Provide Personal/Business Credit to Secure Financing Exit Strategy

As @Chuck Kramer mentioned, there are a ton of 4-7 bedroom high end new construction properties being finished this year and next, so you'll want to make sure that the aesthetic of yours will be unique enough to be competitive when all of those start entering the rental market.

Use your own money out of the HELOC to buy it or put down funds, then use a construction loan to repair and then sell and put funds back to the HELOC, and build up your bank account.

Each apartment I own is a biz in of itself and the pm company (now a vertically integrated asset/property/construction management firm) is 80 employees strong with 200 million in assets under management.My passive/cash flow streams wouldn't be anywhere close to where they are today without first focusing on business income.All the best on your journey!

Construction cost has skyrocketed in CA2.