New Investor - looking for advice

[Arina Alexiuc]

First of all, allow me to say that BP is amazing! I am really surprised how many people are willing to share their wisdom and knowledge! Thank you all for that!

My husband and I are new investors. We have been thinking about this for a long time, but finally decided to pull the trigger. My BIG dream is to build a portfolio big enough so that we can replace our current income and retire comfortably (dream big they say, right ;)?) I am hoping for cash flow, equity, appreciation and tax benefits. Is it really possible with current prices and mortgage rates?

I have been doing research on BP and other places for a couple of months now and decided that buy and hold long-term rental BRRRR strategy will be best for us. I am open to other ideas, except house-hacking, which we would rather not do. Is BRRRR a good decision?

We live in South Florida, which is not the best area to implement this strategy, therefore I am considering out-of-state investing. I am torn between 3 locations: Jacksonville, FL (it's still FL and a drive/quick flight away), Baltimore, MD (we used to live in MD and it's familiar), Midwest: Columbus, Detroit, ??? (I have no clue, have never been there, but everyone is raving about it nowadays :)). Did I miss any other great areas to invest in?

Any advice will be highly appreciated :) Also would love to hear opinions on where newbies invest successfully nowadays and what strategies do they use?

[James Wachob]

Memphis holds a lot of Great investment opportunities. I'd love to be your contact for anything REI related.

[James Wachob]

Memphis has a strong rental market, partly due to its significant population of renters. High rental demand can result in attractive rental yields, providing steady cash flow for investors. 

[James Wachob]

The city's population has been steadily growing, driven by its economic opportunities and relatively low cost of living. Population growth typically correlates with increased demand for housing. I'd love to be your contact for anything REI related.

[James Wachob]

Build relationships with local real estate agents, investors, and property managers. I'd love to be your contact in Memphis, TN.