Updated about 19 years ago on . Most recent reply
New Guy
I have been lurking and enjoying everyones input here. Thankyou. I have decided it is time to join the discussion.
I would appreciate all of your experience in letting me know if you think my goals are realistic or not.
My plan is to buy properties which cash flow upon purchase. I live in CA so they will need to be out of state, and I am open to any market since I work in the airlines.
Here are some specifics:
90% financing
2-4 units, cheap market 100k about per property.
Will hire property manager
prefer not doing fixers from out of state.
Me: I own one duplex with some equity, have experience working as a mortgage broker, and minor experience with property management, but am all new to purchasing for long term investment purposes.
Do you think I can find properties which will return 20% cash on cash with 90% financing? Will the properties be pieces of junk? And, any comments on good market areas to look in to find deals like this?
Thank you for any input you have.
Brad