Newbie looking for advice in regards to getting started

[Janice H.]

Hello BP community,

My husband and I got interested in REI after listening to Rich Dad Poor Dad. Over the last month we found Bigger Pockets and have been building our knowledge base listening to podcasts, reading posts and discussions on the forum and recommended books. We both have full time jobs but would love at some point if our real estate investing took off for him to be able to leave his job and focus on our investments.

We're intersted in getting into REI investing in the buy and hold rental area with most likely SFH or condo/apartments. We live in the Woburn/Wilmington area in MA and are interested in finding our first deal within our area in northern MA or southern NH. I've started looking at deals on online sources, such as redfin.com and realtor.com. From the forums I've read I know that experienced investors say you can find a deal in any area. However, when I try to run the numbers the rent to price ratio is always way below 1. I'm wondering if I'm doing something wrong. Also, what are the best ways to figure out rental rates and vacancy rates? I've seen some averages based on # of bedrooms but wonder if there is a difference in rent possibility for a SFH vs. a condo/apartment? I'm also wondering how to pick the best town w/in our area to start with. If/when we find a good deal we were thinking mostly likely of using a conventional loan but are open to alternatives.

Thanks for all suggestions and sharing your knowledge with us,  Happy Fourth too!

Janice H