Investing in Phoenix or Florida or Oregon or Texas
I am a newbie investor from CA who has been a student of the real estate business for quite some time. I have been listening to BiggerPockets for a few years, reading books, and doing my own research whenever I can. I finally decided to create an account because I think I am ready for the big leagues.
A little about me: I am a young investor (28 years old) who has no debt, I've been grinding and have saved up to roughly 100,000 dollars. I work in tech and I would love to be financially free in the next few years (if possible).
My end play is to use the BRRRR strategy to generate 8-10k a month.
Currently I would like to buy a multi-family (4plex or 8-plex to start out with) that needs a bit of work (rehab) and rent out with positive cash flow.
This the criteria I am looking for:
- Positive demographics - looking in B/C area's (if they make sense) with decent rent control laws.
- Strong net cap and appreciation
- Low vacancies and property taxes
- Healthy local economy
After doing my due diligence of research, I narrowed down my search to Phoenix,AZ, Florida, Oregon or Texas for a multi-family homes to generate cash flow.
Any thoughts of my strategy? Any advice would be greatly apprecaited!
Thank you BP family! Looking forward to your responses!
Mo