Importance of cash flow for rentals

[Thom Ruley]

In my neck of the woods, prices have gone completely insane. With interest rates going up, I'm simply not finding properties that will cash flow. Is it more important to keep looking for a cash-flowing rental or is it more important to simply get into ANY property at ANY price and hope I can pay it off later? My long-term plan is to have several stable rental properties.

[Jon A.]

Never do a deal just to do a deal. You need to have a strategy in place. That strategy will shift depending on the property. If you're buying a trophy asset in a downtown, for instance, you'll make your money a little differently than if you're buying a c class apt building. But the fact is people invest in Ohio primarily for cash flow, not for appreciation. So walking into an Ohio property that doesn't cash flow - What's your plan?