Newbie Looking for advise

[Kevin R Moses]

Hi, 

I am Kevin. 

I don't own any real estate yet but I am looking to make my first purchase in the next year. I am looking into out of state real estate because I live in the Bay Area in CA and things are way over priced here. I am in the middle of David Greene Book "Long Distance Real estate Investing" and loving it. I am thinking of buying a multifamily duplex or triplex to start out. I have been considering just paying all cash for my first unit. Not sure if this is a wise mover or not.  I can see the upsides of no debt and a lot less risk, with higher Cash flow every month but not sure if this is a mistake and I should take the money I have and try to buy a couple places at the same time and finance them. looking for advise from experienced investors out there. 

[Jerryll Noorden]

Originally posted by @Natalie Schanne:

Kevin R Moses - search for house hack or house hacking and read Set For Life. I bought a too big house and rented to roommates - people I interviewed and liked - and made my own rental costs $0. Bay Area appreciation can crush “real estate returns” elsewhere, though you can’t bank on it. If you buy in a great location, you can always get roommates or Airbnb (subject to local rules).

 This one is strong with the force!

I bought my dream home in Pensacola Florida amongst the hillbillies and pinknecks!

I knew a 3000 square foot house with 5 rooms would be cheaper for me than the standard 3 bedroom 1800 square foot house. Why?

I charge 650 ech for 2 of the bedrooms and 700 for the other 2 larger bedrooms and walk away with 2700 a month. 1800 goes to mortgage, and I pay utilities and the end result????

Well poop... there is not much left.. 

OTHER than getting my dream house foh free yo!!

Yeah, it is a great way to do it if you ask me!