Hey All,
Here's the breakdown:
-I've been wanting to invest in multifamilies for 5+ years
-I didn't think I had enough money until this year
-I'm ready to invest, but people are telling me the Bay Area is at the top of the market and the only stuff on sale right now is what people want to get rid of before the next recession. I'm new and afraid to buy someone else's problem property by mistake
-Trying to figure out: Do I invest in a small 2-4 plex now, maybe in Sacramento and save the rest of my money or do I think about investing trying to build a team (PM, GC, Broker, etc) in Bakers Field, or even out of state. Alternatively, should I just wait until 2020 when interest rates are higher and prices are lower to invest? I feel like there are so many options that I'm paralyzed and not sure what to do.
-I know cashflow is king, but it's really hard to find stuff that cashflows around me right now. This is especially true since I have no experience, and I'm afraid to invest more than an hour or 2 away from my house... I listened to some of the pod casts on investing out of state, and it sounds like a great opportunity, but quite honestly the prospect sounds daunting
Your time and consideration is much appreciated all,
Kevin
