So our income bracket is already very low.

A lot of these properties are still trading at low caps, and they have a lot of deferred maintenance.You're seeing a lot of these older properties being traded now.Gino

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

I'd focus more on the market. if you are looking for new builds that cash flow I'd look at markets with low cost of construction in the midwest that also have good market drivers.

Hi, i'm looking to purchase multifamily apartments in the next few months ranging from 5-40 units. One of the issues I have come across is the inspection cost for the building. Even if I do find a good deal where the ...

Low down payment is a significant part of your criteria, Michael, and it obviously fits your personal needs, wants, financial position, goals….But for myself, for instance, ability to pay a low dp is of absolutely no importance.  

I bought a duplex in RWC in 2013 when things were a lot cheaper, and then refinanced when rates were crazy low, so that worked out well but it's a different world now sadly -- otherwise I'd love to rinse and repeat!

It’s a great time to buy during the low season to get launched, stabilized and get your tax write offs now (60% bonus depreciation this year vs 40% next year).  

This deal seemed like a great opportunity for cashflow at a low purchase price.

Focus in on a city with good schools, low crime, and good jobs.