Newbie getting started

[Cathy J.]

Hey all-Just getting started in REI independently. I assisted my parents with their MF properties in NY and because its so highly regulated, I decided I really don't want to go that route. I'm incredibly interested, and researching how to make some passive income on 1-2 fam rental properties as well as fix and flips.

The problem is this, I am having a hard time finding properties in areas that I have resources in that will provide a cap rate of 8% or better. My job was recently eliminated so this time for me is critical in moving us forward to financial freedom as I do not want to return to a standard 9-5. In a perfect world, We'd be able to build enough so that my husband can retire early as well.

What is your best advice on maximizing your ROI in the short term? We recently visited parts of Fla and are considering making a purchase but the margin just seems so thin. It's too bad we didn't act sooner as we were down there about 6 years ago when there was a firesale after the market crash. hindsight is 20/20

Thanks for any insight you can provide.