Am I doing too much at once?

[Rinzin Dolma]

Hi Everyone,

I've been reading a lot and watching the podcasts. Everything has been so informative and I am super excited about all things real estate. I am from New York and as everyone complains, NYC is just way too expensive. I am interested in areas 3 hour radius from NYC preferably PA, CT, NJ. What areas in these states are up on the rise? BTW, I'm interested in rentals. I'm looking for a partner who has a great job and is willing to get mortgage under their name while I put the down payment and repair cost and you get10% of the net profit. Please give me suggestions. The first step is always the hardest to take but I don't want to also stay scared and not do anything. Any suggestions will help greatly. 

[Andrew Johnson]

Rinzin Dolma You might have a tough time getting interest with your scenario. Unless you have a huge downpayment that cash-flow for a first rental isn't going to be massive. 10% of that is going to be pretty small for the amount of risk (their name is on the loan if things go sideways). If cash-flow is $500/month their 10% is only $50/month. If they have a great job in NYC they're in a decently high tax bracket so after taxes they're probably getting a pizza a month for being on the hook for a mortgage. But that's just one hypothetical, how do you see it penciling out and making sense for an investor?