Help... Newbie is drowning...

[Donald Thomas]

I am a very new wannabe investor (have not bought my first investment...yet). I currently in Washington State. Buying property here is a bit expensive and I am definitely looking to find a market outside of mine. The biggest question is WHERE? This is the stage in which having a mentor would be crucial. But I have none, and now venturing out into this scary world on my own. 

My goals? Well, ideally I would want to purchase a cash-flowing multi-family apartment (4-6plex). I have search near and far on sites like Loopnet, but I'm afraid without direction I'm just wasting time and energy. 

Fam, what advice can you give me? Help!!!

[Todd Powell]

@Donald Thomas
My thoughts, save 3.5% and do FHA into a 4 plex or below. FHA will not do anything bigger than a 4 plex, and you can live in one unit and stay close to your tenants. Investing out of state for your first investment is not the path I would take although some here on BP would argue that point. I manage many doors but I own the 4 plexes all within a 30 min drive in each direction or closer. Do not let fear rule you, but make educated choices! I wish you my best