NEWBIE FEELING MAJOR PARALYSIS

[Kais Rona]

Hey guys, I have been watching the BP youtube videos and have been totally inspired to invest in rental property. I am a physician in Southern California with about 400k in educational loans to repay although I have some capital to invest. I can't afford the real estate in my area and have been more interested in long distance real estate. The first step is to choose a location and I'm having a lot of trouble with that. I'm not sure if it's analysis paralysis or I'm just being indecisive. I'm thinking I want my first investment property to be relatively close to California (i.e Arizona, Nevada, maybe even Texas) but I also want my first property to be a 3Bed2bath, less than 200k, and in a state that is land-lord friendly. On the other hand, I keep reading that the midwest is good for renal property investing so I'm just not sure. I'm hoping that someone can help with some direction (i.e. potential cities to look into) or advice. Would be much appreciated.

[Aaron W.]

@Kais Rona Taking action is going to be the best advice I can offer. The first deal more than likely is not going to be a homerun of a deal, but what you will learn will set you up for the next deal and all other future deals. 

Your first step should not be to choose a location to invest in. It should be to figure out your why in investing. What goals do you need to accomplish your why? Are you in it for cash flow or appreciation?  Do you need immediate cash flow or can it wait? What is your appetite for rehab?

Answer these questions first and then this will start to guide you in where you should invest.

Best of luck!