Not Too Old to Get Started in RE Investing

[NA Loraine Nielsen]

I became fascinated by real estate investing many years ago when I did real estate closings as an escrow officer for a title company. I witnessed and participated in many deals put together by savvy investors and have always wanted to try my hand at it. Though I'm still in the research phase, I think I want to go with newer multifamily homes and possibly some single family homes to buy and hold. My town, Ephrata, WA, has a population less than 8,000, so I'm looking at Wenatchee (about 50 minutes away) or Spokane (about 2 hours away). I lived in the Spokane area for 18 years, so it has that familiarity that appeals to me. I also have children and grandchildren in the Boise, ID area, which is growing like crazy, and I will consider investing there, as well. (Tax deductible visits for the business, etc.) Picking a market to get started with has been a slow process - I might be overthinking it. I need to just pick a place and focus all my research on it. I'm looking forward to learning from all of you who are further along on this path than me. 

[Claire Fenton]

Hello and welcome to BP @NA Loraine Nielsen.  Exciting project ahead of you!  My suggestion in picking a market would be demographics and cap rate of course, but beyond that, pick a region where you have people you know and trust to refer resources, and who have a first hand pulse on the market.  I know many investors have properties all over the nation, but I think that is for the pros. I would want to invest somewhere where I could get to fairly easily, have a free place to stay and people I wanted to visit.  Another consideration is a good property management company you can trust.  Good luck with your search!