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Updated 5 months ago,
Need advice on buying my first rental property
I'm planning to buy my first rental property. Below is my budget.
$$ Range = max 350k
Down payment = max 25%
Goal = Positive cash flow and appreciation(if possible)
I'm thinking about 2 options. 1. Buying rental in southern California(I live here) 2. Out of state in Raleigh,NC(Have a friend here)
In southern California(orange county) not able to find any thing affordable in our budget. If we find anything, no cashflow and only thing I'm banking on is home appreciation in future. Thats a lot of risk for first rental.
In Raleigh, NC. I could find property that is in my budget. I have contacted couple of real estate agents, they want me to fly in to look at properties. Is that how it works for out of state investment? do you guys has to fly in to checkout the properties
What are the areas I should look around Raleigh for good rental property?