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!
Look at Marshall Reddick. They are based in CA and help people locate rentals out of state. Texas is a great market. It's landlord friendly and has strong/diverse economy. I cannot speak for the other state.
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