Updated about 7 years ago on . Most recent reply
New- finding right location
I’m new to real estate investing. I have a full time, fairly high paying job. Over the next 10-15 years I’d like to build a portfolio of buy/hold rentals to supplement / replace that income.
The challenge I’m finding is where to begin to find good deals.
Ideally I’d want to start with something near where I live but in So Cal home prices are expensive making cash flowing properties slim.
Using the calculators here and realtor.com, I’ve found what seem to be good deals in Texas, Indianapolis and some other areas. I just don’t know if it’s smart to have my first investment be so far from where I live.
I am comfortable going a few hours away or even out of state but I’m not sure if that’s the best approach as a newbie.
Any advice from those more experienced would be welcomed!
Much appreciated!