New to real estate (rental properties)

3 Replies

Hello - I'm 25 y/r, currently work in tech industry and looking to get into real estate. I've been reading a lot lately, and would love to buy, rental and hold. I'm currently considering Syracuse (around university area) but open to anywhere in the US to provide stable cashflow ($300+) monthly. Please feel free drop any advice on how I should get started and markets I should consider (i'm flexible).

Texas is a great place for REI, there is a lot of work and a lot of people moving everyday form other states. Look at the trend of population growth by cities, that gives you an idea which cities have the highest housing demand. San Antonio, DFW, and Austin are great places to look at.

Good luck!

@Joseph Abankwa & @Sophia D. I recommend talking with some experienced landlords. There are a lot of niches in the rental market and how they work may look the same from the 50,000 foot level, but when you drill down to the details they are very different. 

From your post, it sounds like you might be thinking about student rentals. Multiple tenants in each unit, often on separate leases. That is very different than D class section 8 type rentals, or even B/C multi-family. 

You should figure out your financing and how you will manage the property as well. 

Finally, before you invest learn the market you are going to invest in as best you can. Every area is different from how property is taxes, what utilities are provided by the municipality (and are lien-able), etc.

I'm in Northeast Pennsylvania in the Scranton/Wilkes-Barre area. There are plenty of cash-flowing single family and small multi-family homes here. If you are interested in my area let me know and I'd be happy to help you out. 

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