Property analysis help

[Greg Yunov]

Hey guys, I'm Greg, a New Yorker, and new to the real estate game. I've been doing some intensive research into real estate strategies, and decided to go the long term cash flow route. Problem is, I am often coming across properties that seem too good to be true, and I'm seeing flaws in my due diligence (ie. I will think neighborhood is decent, but realtor will tell me "Its off the beaten path". Also a disclaimer, being from New York, there's no way I'm investing in New York for my first time (or maybe ever), as cash flow is almost impossible to come across. So I will be buying out of state and using a mgmt company.

My question is: what do you seasoned investors look for, in order of priority, before you decide "I like this one"?

Thank you guys so much in advance!

-Greg

[Kathleen D.]

@Greg Yunov

I also live in an expensive market, and it is very difficult to find anything close to positive cash flow!  Not too mention taxes are super high, and the laws make it difficult to be a landlord (I think the case for both CA & NY).  It is definitely a difficult decision on where to start, but I think the best thing you can do is outline your investment criteria, and start building your network.  If you're just starting out, it helps to make sure you are working with a good team.  Investing for cash flow is probably the best approach you can take.  No one is chasing appreciation in markets like this I hope.  I always look for positive cash flow.

I've purchased 4 properties over the past few months with renttoretirement, and have been very happy working with them.  They operate in excellent markets, have quality rentals, screen tenants thoroughly and have great communication.  I heard about them from a colleague of mine that purchased a few homes from a couple years ago and still invests with them.  She highly recommended them.