All Forum Posts by: Alyssa Feliciano

Thanks for the the great advice everyone!  I'd love to reply to each and everyone of you but now I have a much clearer direction and a lot of work to do! I'll keep you all posted.

@Kelvin Tran Thanks for the encouraging words and advice! What is DOM?

@Mike D'Arrigo. That is a great list and a few things I did not yet consider.  Cash flow is number one at the moment so I'll add Indianapolis and Kansas City to my list to compare. Thank you for the suggestions.

@Mitch Smith. Looks like Indianapolis is a real winner.  I'll move it to the top of my list and check out surrounding areas. Thanks for your thoughts and reaching out neighbor.

@Taylor Hudgins That is a great idea, thank you!  I've been looking into parts of Texas. Mainly Houston, San Antonio, and Austin, because I have family there.  Also considering Tennessee and Oklahoma because I've seen some less expensive markets there.  A friend told me to look into Arizona and Georgia as well. I'm all over the map.

@Joseph Cacciapaglia Those are great questions and I definitely need to go back to the drawing board. I know I want to start with a market that has great cash flow on day one.  I'll focus on appreciating markets, and multi-family units later.

I only have about 14k to work with. I keep hearing about investors that invest with no money down with small local community banks.  This would be ideal but also not something that may be realistic for me starting out.  I will most likely have to get creative with financing.

I will get more clear on my goals and strategy. Thank you for your insight.

@Stone Saathoff Thank you for the feedback! I've explored San Antonio a bit and will defiantly be taking another look at it.  Low price entry and cash flow are my top criteria.  Im still figuring out my strategy.  Turn-key has been appealing because it'll will be my first property and rehabbing is really intimidating.  However Im not completely opposed to it, I just need to learn more.

Thanks everyone.  This is all super helpful. 

@Joseph Cacciapaglia

Hey there Bigger Pockets! 

Im a rookie investor, living in Souther California, looking to invest out of state.  I want to start looking for deals but I'm getting hung up on where to look. 

For out of state investors, what criteria did you use to pick your market? Ideally I would like a market that is cheap, so I do not have to put a lot of money down.  What should I search when looking for a market like this?  Should also include population growth, job diversification, landlord laws, etc? Having major analysis paralysis. 

Any advice would be appreciated.  Thanks for you help!
   

Another perspective...

I’m a renter. A currently unemployed server.

I have no intentions of not paying rent because I have money saved, which is supposed to be for my first real estate investment. My landlord has a net worth of 1.4 million (he told me while installing a new washer.) I’m sure losing a months rent probably would not hurt him. But I will continue to pay rent because I’m a responsible adult and you pay bills when they are due.

That being said if this pandemic happened a few short years ago, I would be in big trouble. No savings, living paycheck to paycheck, no money management skills what so ever. Sadly, that last sentence is normal for many Americans.

Every situation is going to be different. There will be tenants that try to take advantage of this mess. Shame on them.

Then there are responsible honest tenants that are doing their best and just need a break. They could also probably use some financial advice. Take heart.