Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 10 months ago, 02/28/2024

User Stats

3
Posts
9
Votes
Yang Zeng
9
Votes |
3
Posts

First investment (multi-home) property, close to home or in a cheaper market?

Yang Zeng
Posted

Hi all, first time posting here.

I have been listening to the BiggerPocket podcast for a few months and would like to get my feet wet.

There is an opportunity, close to where I live in Los Angeles, which asks for 2M. In our market, it's better to pay 30% down to secure a loan. This basically means we need to spend all of our cash reserve in the downpayment.

I also heard that in states like Ohio and New Mexico, you could find good properties with possibly cashflow under 60k. With what we have, we could pay cash for those properties, so that we can avoid the high interest rate nowadays. But it take a lot of luck and effort to choose the right market to invest in, and managing an off state property is also challenging.

I would like to hear people's take on this topic.

Thanks!

Yang

Loading replies...