Buying Real Estate -- Mid -Low End vs High End
The past few months I have been researching buying property. I have a full time job and I am debt free. Next step is to buy rental property. After researching I am thinking changing my strategy to target properties that are in the re-sale range of $65K - $80K range instead of $150K -$200K range.
I can acquire a $70K house for about 30% - 40% (about $30K) then rent it out for $700 -$1000. Or I can buy a $150K house for about $100K then rent it out for $1200 -$1700.
It makes more sense to me to look at the Mid/Low End houses because there seems to be more profit in them and the ROI is a lot quicker. Granted this goes along with the tenant I put in it.
Does it make sense to anyone or Am I looking at this wrong?