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Traver Freeman
  • Investor
  • El Cajon, CA
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Buy and Hold Markets for Beginners

Traver Freeman
  • Investor
  • El Cajon, CA
Posted Jul 5 2015, 19:18

I've been doing research on markets for buy and hold for about a month now. I'm checking unemployment rates, population growth, purchase price, rent rates, percentage of renters, etc. and I'm still having trouble identifying a solid market for my price range. 

My main problem is I don't have a whole lot, but I want to begin investing. I've been interested in investing for about a year, but circumstances have propelled me to start taking action. 

I'm living in San Diego, and starting out here with a family and one income at entry level is relatively killer. I've been working two jobs and still barely paying our bills. We've cut down and cut back on every possible avenue and it's still not enough. My wife just got a part time job, and that will allow us to be positive monthly, but we will hardly see each other and never have the weekends off together. 

So my current plan is to find a good cash flowing property to "help" offset our deficit, though my main goal is to save the positive income for future investments. 

Right now I've got about $28,000 in the bank and $16,000 in comfortable playing around with.

Putting 20% down, I'm looking at buying two $30,000-$40,000 properties or one $60,000-$80,000. I'm looking for advice on which direction to go as well as what market falls into that category. 

I've looked at a few cities that seem to meet the criteria for a good market in that price range, but I have no idea if that's how much the ordinary house costs or if I'd be buying the dumpiest house in town.

I appreciate any and all insight either about markets or suggestions and how to take the few funds I have and put them to good use. 

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