Looking for insight

10 Replies

Good afternoon, I’m just starting out trying to invest into some properties in California , Arizona or Nevada and was wondering which cities for someone on a budget would be great to invest in a multi-family unit ?

@Nia Dixon If you are just starting out then you want to start off in your own market. You will be able to speak with local agents and find out for yourself how the market is doing. Too many new comers come into this business and immediately try to go into another market when they haven't even picked up the skills and mechanics to learn their own market. Be the master in your own market first then when the time is right, expand. 

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Hey @Nia Dixon , I have compiled a list, and provided a map as well, of cities that fit your investing criteria.

The data suggest that you'll want to look in the central areas of CA or AZ if you're looking for budget places to invest in. 

The locations all have median home values in the bottom 50% for all three states combined and the population threshold was set at 25k or more to eliminated nano-sized markets. 

The points on the map correspond to each location provided. The larger the bubble, the greater the population. 

I have provided a link to both a higher res image of the map as well as a csv with all  the data points.

https://www.dropbox.com/s/tpebs6ddo16a3b6/CaAzNv.svg?dl=0

https://docs.google.com/spreadsheets/d/e/2PACX-1vS...

The problem with that is the market is way above the budget. I live in California where prices of Real Estate has skyrocketed because of the new stadium that's being built in Inglewood, so we wouldn't even be able to start unless we have some real cash upfront. That's why we have to learn new markets that are somewhat close to where we are now.
Originally posted by @Louis Davis :

@Nia Dixon If you are just starting out then you want to start off in your own market. You will be able to speak with local agents and find out for yourself how the market is doing. Too many new comers come into this business and immediately try to go into another market when they haven't even picked up the skills and mechanics to learn their own market. Be the master in your own market first then when the time is right, expand. 

@Nia Dixon That is the thinking of most people when they think their market is overpriced. However, the Las Vegas market is the 2nd toughest market in America and we do about 4-5 deals here a month. It's all about learning your market. If you think other markets are easy, imagine what everyone else is doing. People focus too much on what might be easier instead of mastering the skill of obtaining properties no matter what your market is doing.