New investor looking for a little guidance

[Bryan Zuelch]

Hello fellow investors,  

I've been working hard for years to get to this point! I've got a nice down-payment an ACTUAL approval and basically my ducks in a row to start my first investment. My new problem are these crazy price hikes,  I'm in the San Diego County and I dont know if I'm able to keep up with these prices?!!  Does anyone have any advice or know of a good out of state market that might have more to offer a new( first time) investor?! 

Thank you in advance!

[Brad Jacobson]

Hey Bryan,

I know these price hikes and rising rates are discouraging but as landlords, we have the opportunity to be the winning side of things.  It's always tempting to want to look at other markets and see where the grass is greener but I've found that rents are rising almost as quickly as prices and deals continue to exist in all markets.

I'm in the greater Salt Lake area of Utah and though not as crazy price-wise as San Diego, we've still seen crazy price spikes.  Nevertheless, rents have shot up as well and I've still been able to accumulate units in my local market where I know the market the best.  I just have to make sure I have my rents and ARVs dialed in. 

Me belief is that it's always better to start local so you can have a real hands-on experience even though that view isn't shared by all investors.  I'm sure if you're spending the appropriate time and building the right network, you'll still be able to thrive in San Diego!

Good luck!