How to pick the location??

[Youssef Elmaraghy]

I am new to real Estate, that's my second post.

I am in Columbus Ohio. I went to the bank today to get myself pre approved for a loan to see what I can afford, so I am still on that, but I have a few questions about the location.

i talked to an agent and he suggested and showed some multi-family homes in Delaware -Ohio. he said "there wasn't any in columbus" not sure why??? I don't have access to MLS I looked through http://www.realtor.com  I started looking for places that are very cheap $1 $5000, some of them will be going to an auction, the place is in down-town.

Here's an example: http://www.realtor.com/realestateandhomes-detail/2...

what's the best way to pick the best location?

Is it a good idea to buy several cheep properties, hold on to it and maybe sell it as a piece of land? or maybe instead of flipping, they could be like storage units? is this a good idea?

Thank you

Youssef

[Dhanush Kondoth]

Hello @Youssef Elmaragy

I am not a super experienced investor but I have pulled the trigger on one and ready to fire at my 2nd. You can still find deals from MLS or hudhomestores.com I found mine from MLS.

REO and HUD are the route I am taking. The competition is high so you will need cash to put down cash offers. Setup a automated MLS listing via your Agent (Make sure you have an agent who is ideally an investor and a property manager themselves)

BP members and PODcasts has plenty of info on how to and where to get money/deal/contractors and the whole thing. 

Let me know if you need any help. 

Dhanush