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Updated about 1 year ago,
22 Years Old, Looking For My First Deal Out of State
Hello! I am looking for any advice on acquiring my first property. I have to invest out of state, since my local market (Los Angeles) is far out of my budget. I am very interested in Indianapolis as my market. I am looking for a small multi-family ideally but single family would work too, and for my first deal(s) cash-flow is my main goal, as I want to supplement my income (I know I am asking for a lot with that in today's market). I am hoping to get a BRRR deal going, as I would like to get some/all of my money back out to re-invest. Any Indy investors have any advice?
My annual income is about 45-50k, I have 70k liquid cash and about 20k in retirement accounts. Is this a decent financial situation to be in, when looking for a first property? 0 debt as well.
Any advice/mentorship is greatly appreciated! Thanks for taking the time to read this!