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Updated about 1 year ago,
Newbie, starting in the next 3 months, please review my plan
Hi everyone, this is my first post, many more to come. I am looking to invest out of state. These are the steps I think I should take. Any advice, recommendations, or opinions will be helpful. I am looking for something around 100k-150k or below, solely based on 20-30k cash. Ideally, I want to buy and hold for cashflow but I will also like to invest in markets that appreciate.
1. Start an LLC - I read that starting an LLC in New Mexico provides anonymity and no annual fees, is it worth considering an LLC in New Mexico instead of Florida?
2- Find property managers, agents, and wholesalers - my plan is to search in Google and choose based on reviews and conversations with them, and also find recommendations in this Forum. If you have anyone you recommend in the cities below or another city you think I should consider please let me know.
3- Find lenders.
4- Find a property
Please let me know if I am missing something or if there is something else to consider.
These are the cities I am considering (Please recommend property managers, agents, and wholesalers):
1- Greensboro, NC
2- Detroit, MI
3- Cleveland, Ohio
4- Augusta, GA
Thanks everyone!