All Forum Posts by: Cheryl S.

New RE investor here and wondering which market(s) I should invest as a newbie. I am looking to invest in a B+ or better neighborhood with good/stable population and job growth. Currently am looking into suburban Cleveland in OH, but I am also interested in Jacksonville, FL; Raleigh, NC; Huntsville, AL and Memphis, TN and more.  Ah.. just a lot markets seem to be good for RE investing and these markets have its own pros and cons.  

Questions: 

1. Which market(s) would you recommend for a new investor like myself, for good cash flows? How about appreciation? 

2. If my goal is to have approx. 8-10 doors by the end of next year, would you suggest me to spread my investments in multiple markets (4+) or primarily focus in one or two or three markets?   

Happy to hear all feedback 

Thanks! 

@Mike Moe Totally agree just like any other business, there's always a risk associated. I was reading news these days and heard that so many mom and pop RE investors can't evict or even take their own home back due to EM and some of them end up not having a place to live themselves. Very unfortunate and I tend to get worried that what happen when I can't collect rent from the tenants. LOL. Anyway, good advice, thanks a lot. 

@Cody Neumann Thanks. As a newbie, I feel I don't have the confidence to start BRRRR deals at the moment. I am more inclined to find a off-market or MLS property that only needs cosmetic / light touch-ups for rent ready. But eventually and hopefully, I will start to try the BRRRR deals that would provide more equity and cash flow. So much to learn and always not easy to start out.

Thanks @Charles Renn. very helpful insights. I agree team building is very important. 

Thanks @John Kunick for the great insights. A question (maybe a stupid one) -- would a 1940s/1950s house in a B+ neighborhood considered as a C class property, which I would only be able to rent to less "aspirational" tenants? When you say "Class A and B properties" did you reference to the neighborhood or actual the properties themselves? 

As far as for screening, I feel that I have less control if I use a PM. Thoughts on that? 

Given that Eviction Moratorium is extended to Oct 2021 and probably will continue to be extending due to the Delta variant spreading, curious if this is a good time for REI newbies to purchase a rental property. I am a bit concerned about the eviction problems, and would love to get others' view on this.

@Joe Villeneuve

Would you recommend newbies to consider turnkey properties, if they have a large amount of cash?

Cheryl

@Jerry Jones

Curious what's your cash flow from this deal after property management, vacancy, CapEx, and etc.

@Daniela Andreevska Thanks for your input. Really appreciate your time helping me here. This is what I've been doing this week! Reading blogs and listening podcast here on BiggerPockets. I do find it can be very overwhelming that since I am new there are just a lot to read and listen :) Try to get through one or two during my lunch and after work. I think it would take me awhile to go through most of these blogs and podcast from various sources. I think a reason I hesitate working with a full service property management is also because our home is new construction built in 2019. I feel there could be less maintenance needed in the next few years. there's other reasons. I will PM you later with more details and maybe can get some advice from you :) 

@Jaquetta T Ragland Thanks. We are moving to NJ and I will try to find the local REIA there and join them. :)