I am new to investing and would appreciate any advise. I am looking into buying an investment property and would like to purchase a multi family property (duplex or triplex). My main goal is to buy and hold as long as it has a positive cash flow. My price range is around 150k. I currently live in Los Angeles, CA and I know I cant find anything in my price range near me. I would like to purchase out of state, I have been looking into some parts of Texas. I would appreciate any suggestions of cities that you guys would recommend and if you have any contact information of any trust worthy property managers or real estate agents to move on with my plans. Thanks in advance.
I’d say it’ll be best for you to do research and find out good cash flow markets where you can get a property in that price range. Maybe take a trip to a couple of those cities and see what your gut tells you. Go see if there is a strong rental market there and how are the neighborhoods(commercial development, culture, etc.). That’ll be a good place to start.
@Pedro Preciado How did you come up with your "price range". Get pre-qualified with a good lender first, than work on your credit / minimize the debt. It's too risky to go out of state to invest for the first time. Flip a house or two in CA to get more $$$ in your pocket, and then buy a duplex in your area.
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