Starting out with 30k

[Ryan Hernandez]

Hi guys, I am a Miami realtor and new to investing in rentals. I am looking for other investors who could advise me in great areas where I can invest to buy a cheap property to rent out. I'm talking about an 80,000 - 100,000 dollar property. If anyone knows please introduce yourself and state some great information. Thank you so much

[Chris Seveney]

Quote from @Ryan Hernandez:

Quote from @Chris Seveney:

@Ryan Hernandez

Just recognize that if you have $30k you will need money for reserves as most lower priced homes have lower quality tenants who have higher eviction rates and higher turnover costs.

 I agree 100%. But considering that my down payment would cost around $16-$18,000 do you still think 30,000 is not enough. I have found properties in areas in the Midwest ranging from 80 to 90 grand. What are your thoughts? 



 

 Make sure to have a GREAT PM. These properties will have zero appreciation and only money will come from cash flow, so one bad tenant will eat up years of cash flow.