Brand New in REI; starting out in Multifamily rental Investment

[Wasim G.]

Hello everyone. This is my first post on BP. I'm just starting out my REI journey. My goal is to generate enough passive income one day to retire. I just got the pro account and also enrolled for MF bootcamp here starting in Feb. Other than that I also just got Chandler's video course because I'm awful at reading books.

I don't want to invest in Cali as there's no cashflow. I'm lookin at other markets. I have the down payment ready to buy a fourplex in most markets. Here to make connections, get recommendations on education, and hopefully find mentors.

[Mitchell Roadruck]

Hey Wasim, 

Welcome to BP! Congratulations on taking your first steps. I just want to defend my home state in response to @Robert Reynolds's post.

Robert, 
I agree with you, appreciation results in building wealth. Buying in markets like SoCal, Denver, Austin, etc will give you that appreciation! That being said, in my humble opinion buying for appreciation may not be the best first investment for most people. Deploying all of your capital in one deal will result in slow growth. Instead I recommend buying for cash flow in areas like IN and the rest of the midwest where your money will go farther and a couple BRRRR's to redeploy that money in a market that appreciates historically at a faster rate. That will result in the investor having a few stable cash flowing property (Midwest) and a long term hold asset that probably wont cash flow very well but appreciates well (SoCal).