Multifamily/Income Property Investment

E

elgringo

New member
Hello,

I have been thinking about investing in a multifamily property in either OC (Costa Mesa, Huntington Beach, Los Alamitos) or LA County (Long Beach). I am wondering if any of you have bought such properties and would be willing to share any insights or advice. I would probably live in one unit and rent out the others.

I have worked with a realtor on this in the past and actually made an offer but ended up retracting it because I felt prices were going to fall - and they did. One of my concerns is the amount of apartments on the market now and the competition I would be facing for residents.

I appreciate any insights you may have.

Thanks!
 
I've been looking for a 4plex over in the Long Beach area as a pure investment for one of my buyers. Since you plan on living in one of the units you will be able to get primary residence pricing (i.e. a lower interest rates). I think as long as you stick to densely populated areas that are centrally located in decent areas you should be fine in terms of finding tenants, you just have to make sure you rent out the other units at or slightly below market rents as the rental demand is very elastic for lower income renters. Let me know if you have any other questions.
 
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