Rental Property Investor · Malad City, ID · Member since 2020 · 18 posts · 9 votes
Hello all, I am brand new to real estate and am very excited to get started. I have a question, however. I am located in the boonies in southern Idaho, and am wondering what class of real estate you would try getting into if you were in my situation. I live in a town of about 2,000, and the outlying areas are sparsely populated. There is no town larger within 30 minutes of here. The real estate market here is good for a town this size, but it still doesn’t seem to leave me a ton of options. There are several midsized cities (100,000+) about an hour away in three different directions, and I can move into one (or more) of those markets if I have to. I would rather, however, stay a bit closer.
If you were me, how would you start? Do you have any options, other than leaving town?
I think with virtual access to almost anything today and being able to meet with anyone online via zoom, I don't think location is an issue in today's day and age.
What you need to do is a self assessment in regards to how much money do you have at your disposal, what your credit score is and what you income from W-2 job comes from. These are the only metrics that really count when you are looking to buy properties.
If you are all set there, then you need to make a plan that works for you and then follow it.