Hello from Cali - Small Investor
My name is Rizzy and I recently found BiggerPockets and have quickly fallen in love with it. I have always invested all my life but never in real estate. I want to buy wholesale properties, hold and rent them out.
I live in California but the primary state I want to invest for wholesale properties is Jacksonville, FL. This year has been good to me and I don't want to waste the earned money and want to purchase multiple rental properties in range if 15-25K
I was about to purchase a duplex at a very good price of just 20K in Jax, but me being a first time buyer I wanted to actually physically go there and buy it. In that process someone else purchased it :(
I'm looking at a very small property that is on sale for only 12.5K . This is not a really good property, it's ugly in fact but they claim that it has a tenant for 10 years paying $450 a month. Should I blindly go ahead and invest in it, this time without even visiting there?
Thank you so much for taking the time to read and considering responding.
-Rizzy