So while a lot of people made money by holding to rental properties in the prime areas of Austin by values going up, it can wipe you out if you’re not financially prepared to handle emergencies.

I have about four savings account which totals a little over 3k for different reasons like Emergency (2k), Travel (1k), a credit union saving (~300+), and investments (~350 and adding [Had more but I spent it some stuff to educate myself and get started with the stock market.

So I’m looking for a my first deal in roughly the next year, I’m located near Seattle but am curious if anyone in this area knows good neighborhoods or city’s that are looking more promising then others, I intend on s...

i also see an emerging CHEAPER market near the ferry terminals on the outer lands from seattle..ive talked to a handful of Agents in that area and i want to know from you guys think it would be a good move to start my investing career.im currently in the "now to find how to get finance" phase so things are moving.been studying BP podcasts for near 6-months...Thank you all !

The only reason I am considering it is because my sister just moved as well and my parents are only home in the summer, so I really do need to have an emergency person who will be here. 

I've had a few discussions about the best way to create a plan in order to "snow ball" your way to owning many REI properties (buy and hold for rent).After Googling around and even reading blogs on this site, I've thought about doing something like the following:Buy my first rental property (SFH) with cash (around $60-70k) where I'd expect about $500 cashflow per monthCurrently I have about $105-110k available (after taking out an emergency fund)Then shortly after, buy my second rental property (SFH) but take out a mortgage and put down around 25% on a $60-70k houseThe cash flow on this property specifically would likely break even (at or near 0) but this would be on a 15 year mortgage and I can use some (or most) of the cash flow from the first to help pay down that mortgage faster, along with my corporate job monthly savings tooI feel I could pay it off anywhere from 5 - 10 years depending on the exact strategy If/When I get the 2nd one, then shortly after that, try and get a 3rd SFH rental property and continue this snow ball effect to build up by rental portfolioObviously this is easier said than done, along with risks and I honestly do not have any real experience with rental properties as this is my first time diving into this type of investing.My main questions would be -- Has anyone done a similar strategy to help build their portfolio quicker?

But part of it was also due to the location emerging.

I would think if you're renting a basement you have to have an emergency exit.

The deals are there in the beginning for displaced, panicked and uninsured people FSBO because they have no emergency fund to pay for rent and a mortgage.

We aren't even close to depleting those funds yet, but I try not to use them and save it more for an emergency situation.So at the end of the day I'm not worried about having to fork over money for the repairs.