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Updated about 3 years ago on . Most recent reply

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Any advice for a Rookie

Posted

Hi there! I’m new to the whole real estate investing game. My goal is to buy my first investment property within the next 6 months. I am hoping to Buy and Hold but do not quite understand all the lending options. I would much rather save up and use my own money but not sure if that’ll be a good idea. I don’t have much saved but will hopefully build some savings while working my w2. I live in SoCal and would like to invest out of state. I already own a home and was hoping to invest in Az or Las Vegas because they are close enough that I could travel out there if I needed to. 
Is there anyone else in my shoes or were prior? Any advice is appreciated!!

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Trevor Fleck
  • Investor
  • Fort Collins, CO
329
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Trevor Fleck
  • Investor
  • Fort Collins, CO
Replied

@Marilynne Poumele-Flores I do agree with others that the turnkey route may make sense for your situation. You're able to leverage someone else's vetted and proven network - this minimizes your risk. Personally, I'd focus more on the sunbelt where the population (and jobs) are growing. You'll set yourself up for a better balance of cash flow and likelihood of appreciation. I personally invest with Rent to Retirement and have been extremely happy with the results. https://renttoretirement.com  

Find a market you like and then compare the type of properties and deals turnkey companies provide in those markets. Talk to those turnkey companies about the market and you'll not only learn valuable information about the market, you'll quickly get a sense for which turnkey companies have a real command of the market and which ones are simply trying to make a quick buck. For example, I have 7 new construction build to rents going on right now in Cape Coral. Other turnkey companies offer properties in Cape Coral including ones mentioned above, but a quick comparison across price point, delivery time, sq footage, etc. results in a pretty clear winner. Happy to discuss further if I can be of any help. 

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