Hello all!
It's a pleasure to be a part of this group. As the title states, I am ready to buy my first rental property. I have 100k as my disposal and I am currently looking at single-family homes or multi-family homes. The goal is to purchase to rent, then do a cash-out refi to add more homes to my portfolio. I am using ROI spread sheets (which I'm sure everyone is to an extent) and simply looking at cash-flow positive homes using the 1% rule. I am having a hard time finding single-family homes that meet the 1% rule and some multi-family ones. Does anyone have any advice on where to begin? I currently own a home, so the living-hack does not suit my situation, any suggestions? Also, is my 1% philosophy skewed, am I being narrow-minded, is it a location thing? I am open to any and all suggestions. Again, just starting out and I will love any advice. Thank you!
