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Updated over 7 years ago,
New to Investing - Looking for guidance
I'm currently 28 years old and want to start investing in real estate (recently read Rich Dad Poor Dad and it was the kick in the *** I needed to start). My problem, I'm not sure exactly WHERE to start.
I currently live in NYC and am from NJ, so naturally, I am looking in these areas as that is what I am most familiar with (prices tend to be expensive in these areas). With deals I've been finding online (multi family properties for sale), the cap rate and cash flow after expenses (including mortgage payments) is next to nothing - I'm having trouble finding / understanding how to find a deal that makes sense financially.
I am really eager to learn and put the money I've saved to work. Any insight or "guidance" would be much appreciated. Thank you.