Newbie! Is rental property good way to go?

[Nam G.]

Hi guys,

I am brand new to investing in any asset (not just RE), and looking on guidance on how or where to begin to do this. My goal is to make cash flow. I have never invested in any assets before, so I come with a reasonable level of nervousness, but a bigger dose of optimism! I did a Roth couple of years back, but at returns at 2%, this is not the way to go to rely on it for cash flow. What I do have is enough savings to consider purchasing a rental property, but out of state (I’m in California). My friend recommended Roofstock or Clayton Morris’s Morris Invest.

I’d appreciate if people could guide a newbie like me – where can I start investing given my goals? Should I be looking at some other asset class? I'm pretty good at understanding financials and risk evaluations. At this stage, I'm already a little into analysis paralysis zone, so I'm eager to just get started!

Would love it if someone who also started out as a newbie from a non-RE background could share what was useful for them..For example, is it wise to start with an asset such as an out-of-state rental property? Any experience with Roofstock?

Thanks so much for any advice people have for me!

Cheers, Namita