Originally posted by @Neetu Nagi:
I am a single mother living in nation most expensive ZIP Code in Silicon Valley where buying is definitely out of the question for me at this point of time. I am currently renting a house and is looking to invest in rental business out of California. I looked into some properties in Miami Florida below 300 K with 25% down and after all the expenses and mortgage monthly cash flow was $200. Question to all the followers are is this a good deal? Or should I look into investing in some other state with 100k? Do I have to put 25% down or is there anyway If I can put 10% or less as a down payment? Pls advice.
Welcome to the BP family . You’ve come to the right place for real estate investing, there are many investors and brokers here with a wealth of knowledge and experience to offer about the business. You can avoid massive headaches and costly mistakes through some of the advice and experience on here, there’s plenty of pitfalls we made that you can avoid by reading and asking questions.
Cleveland is one of the best turnkey market and the most popular for investors because of high rental demand and low cost of entry, property prices are pretty inexpensive here. With that said, don’t go for the cheapest house in the market, anything sub 40k nowadays can be a nightmare. The first thing you will want to do is check out this Cleveland Price & Neighborhood Map which will help you have a better understanding of the neighborhoods and general market in Cleveland. Good luck!
