New Investor Looking For A Market To Get Started In

[Michael Fucillo]

Hello Bigger Pockets! I am a new investor in NJ ready to get started! I have been educating myself for the past year or so by reading books, listening to podcasts, and talking to colleagues/friends about their experiences. Also, I rehabbed my home doing just about all of the work myself. Bigger pockets has been an incredible resource thus far and I am excited to join the community by asking questions and contribute wherever I can. So here I go!

I would like to know what areas people are investing in for buy and hold in 2018. After reading “Long Distance Real Estate Investing” by David Greene I am ready to begin investing in any market where the deals make sense for the type of investing I am interested in. Here are the details:

Would like to buy a four plex

Ok if it needs some work on the surface and finishes (especially if it will add a significant value)

My most strict criteria is that it has to be in a good area, with good schools/jobs to attract good tenants. I have no interest in being a slumlord.

ROI above 10%, $100- $200 / door cash flow (note: I will use a property management company)

Less than $100k cash outlay, preferably $50k for my first one

This strategy is very appealing to me.

https://www.biggerpockets.com/renewsblog/plan-to-make-a-million/?utm_source=newsletter

I may want to speed it up a bit but I like the idea of “trading up.”