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Updated over 4 years ago on . Most recent reply

User Stats

23
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5
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Shiloh Lewis
  • San Leandro, CA
5
Votes |
23
Posts

Choosing a specific market

Shiloh Lewis
  • San Leandro, CA
Posted

Hello all, with 2021 up and running I am hoping to purchase a cash flowing rental property within the next few months. I have about 15k down and have always had a goal of purchasing a home before my 24th birthday in June of 2021. I am in between markets because I have been drawn to both Milwaukee and San Antonio. I currently live in the San Francisco Bay Area and with this being my first property I would like to keep it fairly reasonable to get my portfolio started. With that being said, my question is does anyone know of any major reasons why one city would be more beneficial than the other. As of right now I know that my main goal is to have a Cash Flowing Property. With Milwaukee being a much cheaper area I would plan to use an FHA/House Hack as well as a 203k Loan to purchase and rehab then rent. With San Antonio, I'd most likely plan to purchase a Single Family and use the FHA/House Hack OR just get a conventional loan at 3.5% down and rent it out. I guess I was hoping for some guidance as to which market would benefit more or less in my situation. Hopefully I wasn't all over the place and would love any kind of feedback.

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