Newbie looking for advice....

[Hendrix P.]

I am new to the real estate thing but am going to try and purchase my first investment property. I am in NYC but looking into getting something in the Detroit area. I am doing research and there seems to be a endless amount of information and I'm not exactly sure where to start.

Just some background. I picked Detroit basically because I read that the market is fairly inexpensive and has a reasonably good rental market. This is my first property and I anticipating a few hiccups so I rather not spend a lot of money on the property so I can have some in reserve for the OMG moments.

So, can anyone advise on what my first set should be? I do plan on going there but would like to do as much from NYC as possible.

Any and all advice is well come and appreciated!!

[Uwe S.]

Welcome Hendrix to our BP world.

Detroit for a start as newbie is not the best decision I guess. Yes market is inexpensive, yes there some possibilities on rental market but Detroit is unstable have many bad neighborhoods and if you don't know what you doing you will lose your investment.

There some inexpensive rental markets close by NYC - PA, upstate NY and maybe OH. Here you have the chance with an 1-3 hour trip to look into these houses/properties by yourself.

-Uwe