buying and holding 1st rental
hey there BP. Im currently looking to transition into buying and holding and looking to acquire my 1st asset to start building my portfolio in this coming year. I currently have a access to a 40-50k loan from a family member and want to leverage that money to buy a property in the Rochester market (preferably). I Would love to gain some insight on how to properly and effectively leverage this loan to successfully buy and close on my 1st rental property in this coming year.
For those who are familiar with the Rochester NY market, where would you say is a good area to buy, what do you look for when buying, etc.
For those in other markets, what makes your market standout and what did you do to capitalize in your designated market. I appreciate all the insight which will lead me to this process.