First time investor looking help and suggestions in Florida/Texas/Georgia/N Carolina

[Peter Chen]

Hi Experts,
I am a very new and motivated player to the Real Estate investment world and ready to buy my first rental property. While I am still working on my end goals, some of the concrete ones ::

1. Will start with a single family home, Long term rental investment (10-20 Yr). 

2. Will add atleast 1 property every year starting *2023* onwards. 

3. Will play safe with first investment and use it for learning. 

4. First rental 100-300k ( 20% down, 80% loan), prefer to keep some positive flow if possible, Or atleast neck to neck. 

5. Started exploring below areas but need suggestions from experts if these are already saturated and there are other better options with growing potential 5 or more years down the line. 

a) St Augustine/Jacksonville/Tampa (FL) --> Need more suggestions, not sure which one I should focus more on. 

b) San Antonio Texas 

c) Atlanta Georgia 

d) Charlotte/Raleigh North Carolina.

Last but not least, recommendations for reliable team players in those areas with whom I can build long term partnership for exploring/closing deals, managing the rentals etc.
Thanks

Peter

[Mark H. Porter]

Couple of rules I’ve lived by that conflict with your plans …

1. A property MUST cash flow, beyond debt, capex, everything, or don’t buy it.  That hot water heater doesn’t pay for itself.

2. Everything is for sale.  Don’t get too attached.  When things appreciate, and the property becomes asset-rich, don’t hesitate to sell it under a 1031 with the goal of always doubling your cash flow.

3. Right now, 80% LTV and positive cash flow don't exactly go hand in hand. These interest rates work against you. The more you borrow, the less cash flow. Exactly opposite from just 2 years ago.

Good luck, this can be a challenging time to get into this business.