Advice for new RE investor

[Pascal Arthis]

I'm an eager new RE investor with limited $. I have about $40k which I'm willing to use to start my investment career. I live in NYC but I'm willing to invest anywhere in the country. Which part of the country has the best opportunities for a small guy like me to start with 1 or 2 small multi family deal to buy and hold or to flip. Thanks

[Bob Okenwa]

@Samuel Yi

Honestly, I get on Zillow or Redfin, and just run comps of everything. Rents, flips, whatever. It is painstaking and slow, but this is the way I feel most comfortable doing things. I search primarily for flips and will keep adjusting the "for sale" filters and the "recently sold" filters until I can get an understanding of what sells for what in each area. I'll adjust the home size and price filters and keep an eye on the spreads attributable to each. For example, I'll look at houses under 75k that have 3+ bed 1+ bath and 2000 sq ft and under and then have another tab open and look at the same size and bed/bath combo that has recently sold for over 175k. If there's a small amount of results, then I'll drop the price until there are a good amount of homes showing. This will show me the safe price I can estimate around that a house will sell for in general. From there, I'll add keywords such as "renovated" or "remodeled" to see what rehabbed homes are selling to get an ARV of the area. I want to see what's been happening in the area for the last 6 months.

I also like to see which direction sales are going and check back as far as a year, then 6 months, then 3 months, then 1 month to see how prices and volume are trending. I'm sure other people have more efficient methods, but this works for me as I like to inspect damn near every neighborhood of a city online and like to be very thorough in my investigations.