New investor in Greater Cincinnati OH area seeking opportunities

[Jielu Zhao]

Hi,

I am a new part-time investor in the Greater Cincinnati OH area. My goal is to achieve 100000 annual cash flow within 7 years. 

I have a few questions for the more experienced investors here.

I am working with an agent to shop for my first rental property. However I find it difficult to get a property to meet the 2% rule. I wonder if 2% is possible in Cincinnati area.

Also I am debating on the type of rental properties I should acquire to begin with, single family or multi family.

To achieve my goal I am not sure if I should go for the pricier properties in wealthy neighborhoods or the cheaper ones in the less wealthy areas.

BTW, I have some cash and my current salary should allow me to get a traditional loan of at least 300k.

Thank you!

Jay

[Andrew Syrios]

Welcome to BP Jielu! I would discard the 2% rule. It just isn't realistic and can lead investors into bad areas. My full take down on it is here if you're interested: https://www.biggerpockets.com/renewsblog/2015/05/06/2rule-die-horrible-death/