Are My Expectations Realistic? (Central Valley California)
I'm looking to buy a single family home around Spring 2015 in the Central Valley area of California, namely Turlock, Modesto, Patterson, or Salida. My goal is to buy a home in the $180-$215k range, with no major updates needed. I would like to have a property management company manage it for me, and make $100 positive cash flow per month.
I'm pretty new to real estate, though I do have one rental that pretty much fits this bill. I bought it in 2013.
Is this still a realistic goal for this area in 2015? Sometimes I feel like it's a bit of a whirlwind of price increases and fast buying/selling. I'm not sure if I need to temper my expectations or stick to my guns.
Thanks for any insight!
(first post on forum)