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Updated over 9 years ago on . Most recent reply
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What state to buy my first investment property to cash flow?
Hi Everyone - I'm new to BP and new to REI. I live in Southern California, as the market is super inflated. I am looking to make my first real estate investment as I have enough cash to either buy a cheap place in another state (40-50k) or buy a place that's a bit more expensive and get a loan as I have great credit.
Can anyone help with some advise on what state I should look into with good cash flow opportunities? I appreciate all the help guys!
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Few things:
1. Make sure you are only doing business with a company that is physically located in that market meaning the company and individual you are dealing with live in that market.
2. Make sure they also own property in the market they are selling in.
3. Work direct with the actual company provider.
4. Make sure they have licensed property management company for management.
You are better off using your funds to leverage and buy a nicer home. You will have better long term success this way. There are plenty of crummy markets where you can invest and get promised all the guarantees in the world, you will still fail long term.
Good luck
- Curt Davis