New Member from Austin, TX
Hi,
My name is Sujith from Austin, TX. I work in hi-tech sector full-time and would like to start off REI part-time (mostly on weekends) to supplement my income. Would like to start off small and go big is the plan. Planning to get one done in next 6 months. Have some questions. Would be great if seasoned investors can help guide me to start this journey.
a) Are there any REI groups in Austin that meet regularly which I can attend?
b) Would like to start off in San Antonio with buy and hold $100K worth multiplex (at least a duplex). Put a 20% down and finance remaining with 30-yr financing. Chose San Antonio as I could not find any properties in my budget in Austin and San Antonio is closer to Austin. Is this a good first step?
c) How do I find good leads/agents from San Antonio? I spoke with some agents and almost all of them backed out and did not respond when I told them my criteria - $100K, multiplex and positive cash flow. I started to wonder if this is possible at all?
d) Whatever properties I found on MLS(realtor.com) for that price point are in low-income areas(according to city-data.com) and obviously lower rents. If I invest in such areas, will there be any appreciation of the property?
e) Will there be any property management companies that would take up such properties to manage including eviction just in case if any problems arise with tenants?
f) Are tenant occupied multi-plexes recommended for purchase in such low-income areas?
Thanks for the help!
-Sujith