Newbie investor struggling to make first purchase

[Sandeep Rao]

I am newbie investor trying to acquire my first property and I am leaning towards purchasing closer to the area I currently live which is in aurora. District 204 is a good school district and I am trying to buy a town home or condo to make the maintenance of the property easier. I have cash reserve to make 20% down payment but every property I anayalze seems like a negative cash flow property. Any guidance on how to look at property and make my first purchase. I would happy to connect with anyone if they can provide guidance. 

[Scott E.]

You're going to have a hard time finding a condo or a town home that cash flows right now. Not only are interest rates very high compared to just a couple months ago, but you are going to pay HOA dues on a condo or town home and those dues will usually eat up all your cash flow.

A common strategy for new investors is to find a duplex, triplex, or fourplex. You can live in 1 unit and rent the other units out. And you can get conventional financing on the deal up to 4 units.