New to BP and Wanted to Say Hello Everyone!

[Michelle Truong]

Hi there, I'm super new to real estate and am excited to be joining the BP community where I hope to build my network as well as to educate and learn all about rental property investing. (Have been educating myself mostly through Podcasts,BP forums, blogs, videos, etc.) 

My boyfriend, Mark who is also using BP, and I are partnering up to reach our goal of financial freedom! We currently live in Los Angeles, CA where as most of you know is tough to find good investments at a decent price. We are interested mainly in TurnKey properties, as we are still working full time and are looking for out of state properties. As of now we are looking at properties in Indianapolis, Cleveland, Detroit, and Tennessee. Our price range is about 65k to 70k. 

Would love to get any pointers or any advice you can give to help! 

Hope to connect with you all =) 

-M

[Mike D'Arrigo]

@Michelle Truong You didn't say which cities in TN you are considering but of the other three, I think that Indianapolis is by far the strongest. Not only does it cash flow well but it also has a growing population and job growth. Both Cleveland and Detroit have shrinking populations. I wouldn't recommend going under a $70K price point and less than $750-$800 rent on a 3br however. Under $70K and you're going to end up in rougher neighborhoods. Indy can vary neighborhood to neighborhood so you have to know the areas well or have someone you can trust who knows the area. We've been active in Indianapolis since 2010 and know it well. Feel free to reach out if you need some help.