100k in cash. Looking for best marketing to buy rentals.

[RONALD HENRY]

Hello everyone. New to the bigger pockets family. I currently just completed a HELOC on a property I own in Florida. The HELOC is a 100k line of credit. I am interested in buying a rental property for cash flow. Any ideas on good markets to find rental property for sale under 100k all in.

[Joe Hammel]

@RONALD HENRY

Suburbs of Detroit, Metro Detroit.

On my double digit property acquisitions this past year, I'm averaging a purchase price of a touch under $100k (will be a little higher this year with 7.5% inflation), quite a few hundred dollars of cash flow per door, sound double digit ROI, and the best part…through sweat equity purchase and updates I've almost doubled my "equity" from amount invested to amount I could pull out if sold (which I won't sell)

This equity is a huge chunk of the wealth built that rarely gets looked at, on top of the passive income.

People get stuck on year one cocROI. Take your 12% year one cocroi and let it build to 40-50% ROI over its lifetime.