Getting Started in Spokane

[Nick Talarico]

Looking to get started but unsure of what kind of property to start with.

I'm curious other investors would do with my situation. Goal is to cash flow but may sacrifice some of that to be able to grow. 

Have about 45k cash, 750 credit and our home is paid off which is valued at about 280. 

What is the best approach? Single Family? Multi unit? Here? Flip? How would you finance? 

So many options, I am having some paralysis by analysis.

Thank you!

[Ryan D.]

Hey Nick,

Welcome to BP! Also hello neighbor? =)  

Are you interested in investing locally or are you thinking of the long distance strategy?  Locally here in Spokane the multi family market is scarce but not impossible.  It's tougher to find deals right now but you may be able to buy a Single Family that is zoned for Multi Family and turn it into a Multi, here is link to Spokane's zoning map https://maps.spokanecity.org/#

You could partner with someone as a 'private money' investor for their flips.  PM me if that interests you at all, I know of a local flipper that is looking for additional private money if needed.  

If you're looking to do the long distance investing, check out David Greene's book about Long Distance Real Estate Investing, it's a great read and will help you get an idea of what to do.

PM me if you have any more questions, I'd be happy to help if I can!

Best

Ryan