Yes, near universities is a reliable place to buy a home. You will always have a pool of renters and they will change pretty regularly so that you can actually raise the rent in-between and see more return on your investment. Your limitation is how much of a home you can buy. With $100K down payment, and keeping your condo, you most likely won't be able to get an 80/20 loan. As an investment property, you will only be able to get 75/25, or 70/30. Based on these formulas, you cannot buy near UCLA, but you could near USC or CSUN. You will not be able to buy a home near the beach. I would be happy to assist you further, but of course, need your phone number and email. Let's meet in-person as soon as possible to get started.
Keller Williams Larchmont