First time investor in bay area
Hello,
I am a first time investor and just started to look for the properties. I would like to start with local area before going out of state. I read the bigger pocket guide and other forums too. Right now it is really hard to find the property even with a break even cashflow unless we go in outskirts. I spoke with couple of local agents and they suggested to stick with bay area because appreciation is better compare to other areas and improve the cashflow by refinancing and increasing the rent over time. So is it a good idea to buy a property at a good location with a negative cash flow and hope for a nice appreciation when the market recovers? It doesn't make sense to me to do a losing investment but I will appreciate if someone can share their thoughts or experience about this idea. Thanks..