Planning to buy my first investment property

[Pavan Sannapareddy]

Hi, 

I live in bay area and I am planning to buy my first investment property. My budget is around 600K-650K. Would love to hear any suggestions on where I can invest. My first choice is bay area but it is too expensive and I don't find any homes for this price range to see a a breakeven/positive cashflow every month. I am majorly looking for the appreciation on the property but at the same time I would like to keep the monthly out of pocket towards the mortgage and taxes to a minimum. May be from breakeven till $1000. Really appreciate any suggestions and guidance.. 

Thanks!

[Leslie Bandy]

Some decent cash flow areas in that price range are Pittsburgh, Bay Point, Vallejo, Richmond. East Oakland still has some properties that work as well. Occasionally I see a MFR that even hits the 1% rule. Cash flow does tend to be higher out of state, but equity tends to be better here.