First, If you really want to find answers on BiggerPockets you need to do your part and SEARCH! It's that little box in the upper right corner. There is so much info on here that if you put forth just a little effort you will be flooded with great articles and insightful responses from some very experienced investors.
That said, many investors like myself have been successful in high-priced areas. I personally like resort areas like San Diego, Maui, Hawaii and Park City, UT. Entry-level homes start at $400k and go up from there very quickly. You may have to partner with someone and pool your resources. You may have to invest in more humble neighborhoods. You may just have to get more creative. My first 2 deals on Maui were "functional multi-family" properties where I lived in the "ohana" units (mother-in-law apartment) and rented out the main house. If you really want to do this real estate thing then spend some time researching your specific interest areas on these forums and then put together an action plan! Once you have a plan, throw it out there and ask for critiques. There's a lot of great people on here that are willing to help those that help themselves.
First, If you really want to find answers on BiggerPockets you need to do your part and SEARCH! It's that little box in the upper right corner. There is so much info on here that if you put forth just a little effort you will be flooded with great articles and insightful responses from some very experienced investors.
That said, many investors like myself have been successful in high-priced areas. I personally like resort areas like San Diego, Maui, Hawaii and Park City, UT. Entry-level homes start at $400k and go up from there very quickly. You may have to partner with someone and pool your resources. You may have to invest in more humble neighborhoods. You may just have to get more creative. My first 2 deals on Maui were "functional multi-family" properties where I lived in the "ohana" units (mother-in-law apartment) and rented out the main house. If you really want to do this real estate thing then spend some time researching your specific interest areas on these forums and then put together an action plan! Once you have a plan, throw it out there and ask for critiques. There's a lot of great people on here that are willing to help those that help themselves.
Maastricht, The Netherlands · Member since 2013 · 131 posts · 18 votes
13y
I'm noticing a lot of hidden gems in upper-market locations. Try looking for large mansions that have fallen into disrepair or where elderly people are living. There is more opportunity that way than going by official listings with agents.
The Paris government has recently started mapping these kinds of buildings. There's a wopping 40,000 of them! They even found one in a prime location which was abandoned by the owner at the dawn of World War II. He never returned and forgot he had it.
Property Manager · Washington, Washington D.C. · Member since 2013 · 9 posts · 0 votes
13y
Sometimes the numbers work if you furnish it and rent those properties out to companies. My company, Attache Corporate Housing, specializes in this for property owners, but even sometimes based on the condo fee and how much is put down, the numbers don't add up.