Hey BP! I am looking to purchase my first rental property. I am really excited about the opportunities, but I live in pretty rural Illinois. So this is great because I can get a smaller home for 40k, but there is likely to be very low or no real appreciation in my area.
Should I still start investing? I can purchase a home for 40k and rent it out for $650.
If you have passive income with this investment and that's what you are looking, you should invest in your area.
You should never buy for appreciation anyway. If that deal cash flows and fits with your goals, then do it.
Great. I am going to go ahead a purchase a place in the next three months. Thanks,
Define Rural. A lot of our members are in Southern Illinois