Need Feedback for my First Real Estate Property Purchase
Hello everyone! I am hoping to get some feedback on my current plan in getting into REI.
I am a 31 y/o male, single, living and working in Los Angeles County (Long Beach, CA) and have been saving for a downpayment (approx. 45k) for a house to use as a rental. This will be my first home purchase.
Considering that the housing market is high right now, especially here in LA county, I plan to do out-of-state investing (I am considering using Roofstock) and have my rental property managed by a property management company. I am currently researching and looking into areas such as San Antonio, TX and Atlanta, GA. Hoping to purchase a SFH by next year Jan/Feb.
I currently have no debt and earn an annual income of approximately 120k. I am currently back home with my parents to save money, but am considering renting an apartment closer to work since I am single with no kids, and privacy and own space is important to me.
I don't know anyone personally who is also involved in REI who I can go to for advice, so I'm not sure if my plan is necessarily the best route given my circumstance. I would very much appreciate ANY feedback or tips in purchasing my first rental property. Thank you!