Tips For Just Starting Out

[Brady Salcido]

Hello! 

I'm new to the Bigger Pockets community! I'm currently a Chiropractor in Southern California and have been looking to get into real estate for some time. 

We're finally getting into the position to start taking action and hoping to get started by the end of the year buying our first property. I'd love to start by purchasing a single family or small multifamily to get my feet wet in the process. 

With everything going on with the coronavirus, I've just been saving all the money we can and learn as much as possible to prepare for when there is an opportunity. 

We make good money (not bragging by any means) close to 250K+ a year but don't want to invest in California by any means. I'd love to start investing in the Midwest, as I hear there is some great opportunities based on some of the forums I've read. 

The big problem I'm having is I don't know where to look. I'm not sure what areas or cities to start looking at. Would love some insight on some of the best ways to get started plus any cities or areas you'd recommend would be greatly appreciated. 

Thank you!

 

[Joseph Cacciapaglia]

I'm a relatively risk averse investor, so I've always focused on top tier markets. Looking at job growth, population growth, economic diversity, and relative pricing, led me to settle on San Antonio when I was making a similar decision a couple of years ago. I think today I'd come to the same conclusion. Although there are other markets where the cash on cash returns look better in year 1, I expect San Antonio to outperform over the long term on a risk adjusted basis. I know a lot of data driven investors that have come to the same conclusion. It is one of the main reasons I moved here.