Updated about 5 years ago on . Most recent reply
Choosing market and realtor for my first investment
I live in California, and as most know, the initial investment to entry in real estate investing is quite high.
My goal is to build a portfolio of buy and hold properties for passive income. Looking at starting with a turnkey with single or duplex and gradually transition into BRRRR with multi-family as I get comfortable.
I am looking at Texas and willing to put a 20-25% upto $35,000. I am not hooked onto Texas though since any place outside of CA is out-of-state investment for me with similar challenges.
What is the best way to shortlist the market that works best for me, and find a good realtor for that market?
Most Popular Reply
If you're looking for turnkey, check out @Zach Lemaster over at Rent to Retirement. They provide turnkey rentals in markets that maximize appreciation and cash flow. They assist investors such as yourself build their rental portfolio. I've purchased property through them and it has been a good experience.
If you're looking to do this actively, a quick way to identify a market is 1% rule. A house for 100k rents for 1k per month. Find good neighborhoods and send your criteria to the best realtor in town. You will still have to build the rest of your team after that fact.