First investment
Hello everyone my name is Max, I am a 21 year old newbie that has been involved in real estate for a little while. I'm finally at the stage of a steady job providing me with a good income and I am looking to start with my first property within the next few months. Just last summer I visited my buddy's lake house in a small town in Illinois. I happened to notice the area is beautiful with lots of potential. As a first investment I was looking at some one bedroom single family vacation houses. There is a lot of properties that need some work but are in a 30-50k range. The question is: is a lake house a good idea for an investment. I am looking to rehab a house and potentially rent it out for summers and weekends. I know this is a broad question but I'm just looking for some guidance. Thank you I appreciate all answers.