Updated almost 5 years ago on . Most recent reply
Need Help Buying First Cash-flowing Rental Property
Real estate in California is expensive. Especially in the bay area. That's why I'm looking to buy out of state. I have around 50k to put down as a down payment on my first property. The problem is, I am inexperienced and lacking resources and support. I need guidance. That is how I found this website and why I am reaching out. I want a property that cashflows so I can start replacing my income. I think I want a multi-family property (Ive heard they cashflow well). Where can I find a property I can afford, in a good area, that cashflows nicely, and hopefully will appreciate in the next few years? Big thank you for any help.
Most Popular Reply
I'd start by checking out @David Greene's book Long-Distance Real Estate Investing, in the bookstore. https://www.biggerpockets.com/... He's going to address many of your questions and walk you through the entire process.
I'm not sure of your financial situation but another possibility is investing in a syndication. I'm not as familiar with Brian Burke's book, The Hands-Off Investor, but I know it is about investing passively in syndications. https://www.biggerpockets.com/...
Another option is to search out turnkey providers. I know there are quite a few in the Midwest and Southeast that are active on podcasts and online. I haven't worked with any so would not be comfortable making any recommendations. I think there may be a forum here on BP that is geared toward turnkey investing so you could check the forums too.