Picking the right demographic to target
Hello everyone, thank you for reading my post!
I am brand new to Real Estate investing and I am working on building a strategy and plan for getting into my first property and beyond.
I assume (please correct me, if wrong) that choosing a target demographic will be an input into choosing the location types which is an input into deal analysis. My big question, for today, is... "How do I choose what the best demographics are for my first investment?"
My goals:
- Optimized for cash flow. I am looking to build monthly recurring profit to become financially free.
- Minimize my personal effort. I may be interested in using a property management organization.
- I am going to focus on Multi-family (2-4 unit) as my first investment and I am considering house hacking. I am not interested in short-term rentals.
- I am open to being creative (i.e. College students, etc.)
Thanks again!
Derik