Looking to Buy First Deal
Hello BiggerPockets Community,
I am looking to purchase my first real estate deal and have saved up about $150k in cash to purchase my first deal. I have been learning a lot about multifamily apartments and storage units and am interested in purchasing my first deal and officially getting into real estate. Obviously here in Orange County, $150k doesn't get you anything even with the leverage as its limited to a deal of $600k. Is anyone here that is successful in real estate with a strong track record doing partnerships and buying deals with other members?
Most Popular Reply
Hello @Nick McCandless
Their are so many markets out there. It is definitely harder to find multi-family here in SoCal that cashflows at a reasonable return. One thing you have to consider is, what kinda of returns are you looking to get? What type of tenants are you looking to serve? Do you want cashflow or a combination of appreciation too? Are you open for lower income section 8 housing? You can do a BRRR strategy on a nice vacant apartment building. Some midwest markets are booming, but you have to be careful of course. We buy and hold for cashflow in Indianapolis and Midwest. Will be happy to chat some more!