New Investor from Wichita, KS

[Augusto Ortiz de Villa]

Hello, I have been in the forum for a while but this is my first post. I received some inheritance money and I finally want to start investing in real estate buying rental properties in my area. I am finishing the BP's book on Rental Property investment and I have really enjoyed it. I am trying to learn as much as I can before it buy my first property. Ideally I would like to quit my ft job so I can have more time to dedicate to education and to be able to see properties during the day and dedicate more time to educating myself and networking.  Do you guys think it would be realistic for a new investor to generate 2K of net cash flow x month with 100k to invest? I am located in Wichita, KS.

[Doug Omenski]

I would look at anything south of Kellogg to start. I live in Maize and have one property at 47th S. And Seneca and another at West St. and Kellogg. Both do well for me and both were bought for less than $40K. They are not too close to where I live, but I have a property manager so after the rehab I don't really need to go to them often. I will say it was a pain doing to rehab at 47th and Seneca since it was about a 30 minute drive, but worth it in the end. Just look on Trulia or Zillow, there are so many good deals to be had don't get too worried about getting with wholesalers or direct mail or any of that. I do a lot of just driving around looking at houses on trulia. If I want to see inside I just click the button on the app and some hungry realtor will call in about 5 minutes.  I will say the really good deals only last a few days so you really have to move quick if you are using the apps to find properties, but they are usually at least a few great ones out there.