New Investor Starting Out
Hey Everyone,
I am a new investor working as a dentist that offers a good salary. My wife and I have no kids as of yet and have been able to save quite a bit in our savings since we keep our expenses minimal. We are looking to buy a primary residence in the East Bay, where my dental practice is located. Currently we are eyeing a property that we would spend 5-7 years living in and fixing up and then looking to resell or hold and rent while we purchase our forever home. After this purchase, hopefully in the next month, we will still have some money to invest and would like some advice on where to start.
The Bay area is very competitive area as far as I am concerned and I would be interested in exploring out of area markets. I know there are some pros and cons to this approach and would be open to investing locally should the right opportunity present itself.
I have read through other posts about starting out and plan to continue to read books on real estate investing that have been recommended as well as listen to the podcast. I am hoping to gain some real world experience investing. Please let me know if you have any advice.
Thanks,
Ben
Most Popular Reply
Hey Ben, if you're looking to invest out of state I'd recommend checking out the Ohio markets. I'm personally invested in Columbus, which has been a great hybrid market for cash-flow/appreciation as of late. With many big-tech and media companies expanding into Columbus there is lots of job growth coming to the market. Cleveland is another market with lots of opportunity to find cash-flowing properties at a lower price-point, which may be preferable if you're looking to buy again shortly after closing on a primary residence. If you're interested I'd be happy to answer any questions you have. Best of luck!