Where to Purchase First Rental Property
My wife and I just moved to Boston, MA and we are looking to start investing in real estate soon. From what I have been told so far, it seems like it difficult for new investors with limited starting capital to be able to purchase a cash flowing property in or around the Boston market, and I have been told that MA is not a landlord friendly state. This leads me to think I might should invest OOS. I am originally from Arkansas and the lived in Memphis, TN for some time, and I know it would be easier to cash flow in those markets. However, everyone I have spoken with has told me my first real estate investment should be local.
I am conflicted if I should invest locally in a more challenging market for new investors, or invest in OOS markets, like AR or TN, that would be easier to cash flow.
What are your thoughts? Also, if anyone knows of a great area around Boston, or even outside of Boston, to invest in 2-4 unit properties, I am open to any and all suggestions. Thank you!