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Updated over 5 years ago,
Questions From a Rental Investor Newbie
Hello Bigger Pockets. This is my first post. I recently lost my job here in the Bay Area in CA. And I am at the very beginning of my exploration into passive income by investing in rentals.
I have a house that I inherited in this location that Zillow estimates at about 1.3 million. It's in a location, Silicone Valley, that could bid up. It also has Prop 13 which means I only have to save about $40 per month for property tax. Bummer losing that. We currently make $2900 net rent from it since we have a management company.
We like Austin TX for the schools though, and hopefully friendlier culture. And we think we could buy, possibly, 4 houses there at about 300k and live in one and rent the others.
I bought the Bigger Pockets books and will read them up. But my goal is to learn about real estate investing so I can make living income somewhere in a less ridiculously expensive place with good schools.
So, are there specific people I can call that specialize in what I am trying to do for consultation? I don't want to screw this up. I'd love to be able to snowball this too.
What are some things to keep in mind with a goal of being a rental investor in a specific situation as mine?