Yeah, buying properties in California is just not going to work because the rent-to-value ratios are too poor here. When I started out in 2012, I bought turnkey rentals in Atlanta, Birmingham, and Indianapolis, but things have changed a lot since then. Now, you're probably looking at tertiary markets like Augusta, Georgia, or even areas like Detroit or Baltimore if you're on a tighter budget. Yikes!!!
If you don't have much money, like less than $30-50,000 for a down payment, and you're looking for cash flow, unfortunately, buying in these lower-priced markets might be a good option - but the best one if that makes sense. It is what it is. However, if you're an accredited investor earning a couple hundred thousand dollars or more, syndications and private placements might make more sense for you. But hey, I've been in your shoes. I don't know your net worth or income, but that's what I did for several years—buying small rental properties. It's not a get rich quick scheme, but it can get you closer to being an accredited investor.
Oh, by the way, I didn't get much information from your question, but if you're considering a market like Augusta, just be cautious. It doesn't have a robust economy like some other turnkey markets with more employer diversification.
You mentioned wholesalers. Yeah, that's an option if you want to buy, rent, and rehab properties. It can be good if you have a lower net worth and time on your hands. Just be aware that it can be risky, especially if you're an out-of-state investor and need to rely on others remotely. People talk about it a lot on these forums, but be very careful with that approach. Unfortunately, for newer investors with limited cash, it's sometimes the only option.
