Advice: New Investor/Small but Mighty Portfolio/ Long Term Game Plan
Hello, I' m a newer investor in the process of getting my first property under contract near where I currently live. I live in a good, appreciating market where the average home price is above $700,000. Not a great cash flowing market. The state that I live in is also not landlord friendly. My plan is to have a small but mighty real estate portfolio, much like Chad Carson's book. I want to use the profits from flipping in my home market to obtain and pay off properties in a better cash flowing, landlord friendly market. Initially, the properties that I buy in another market don't have to cash flow a lot, my metric is $150, as I'm focused on the long term gain when they're paid off and I have a W2 and am also a realtor. I'm not looking to leave my W2 tomorrow. However, my hold up is what market to look at that will help me meet my goals. I have looked into these markets: St. Louis, MO, Indianapolis IN, Columbus OH, Cincinnati OH, and Columbia SC. Does anyone have any advice on which direction to go? Thank you!
Most Popular Reply
I like creativity in your own market compared to chasing cash flow across the country.
Not too worry you will have plenty of people selling the dream to you.