Rental Properties in the 100k range

[Sandra M]

We are looking to invest some money preferably in the 75k - 100k range single family homes to rent. I would be buying the house cash.

I wanted to see what everyone recommends. I recently purchased one in Fresno, CA for around 120k cash and rent it for $1,150 a month.

I wanted to see what other cities to invest would be good. We were looking into cities in or close to Reno, NV with less state taxes to pay. Or possibly just looking for another one in Fresno, CA.

What would you recommend ? And if its more than 100k how easy is it to get financing for a investment property ? In this case would it be better to buy 2 - 3 houses and splitting our cash into a down payment ?

We just applied to buy a home in the bay area and qualified for more than 700k and have excellent credit. However we recently decided to rent and invest somewhere we can maybe buy a property cash and get money flowing in. There is such a big bidding war right now here and we would only be putting 10-15% down so rather invest the money somewhere better.

Any suggestions would be greatly appreciated.

Thanks !

[Matt Devincenzo]

Originally posted by Sandra M:

We were looking into cities in or close to Reno, NV with less state taxes to pay.

This is a little different topic than your post but Marco Santarelli handled all of those questions I think. Just be aware you will still owe state income tax on those properties. I have rentals in FL which has no income tax and I haven't done so yet but I will be paying CA state income tax on my rentals starting this year I believe. The link below has a recent discussion on the issue.

How-does-investing-out-of-state-impact-your-tax-status