Hello, newbe from the high desert in Southern CA
Hello everyone, I am a very novice investor but wanting to learn as much as possible. From what I have read on this site already, this is a great place to start.
My wife and I currently have one rental property, which we paid WAY too much for, but thankfully has positive cash flow. I would like to acquire a couple more rentals, but must be more cautious and when purchasing. My plan is to supplement my current career as an auto technician, and to give myself a little extra to retire on.
I am pretty good with numbers, and have always managed my personal finances well. For this reason, I think I would perform well with managing my rentals well, but I also think it would be a good idea (for me) to hire out managing if I were to acquire 4 or more properties.
My biggest down fall will probably be with finding properties that satisfy the requirements of being a good investment. I am also pretty scared of being the victim of a nightmare tenant. Although I believe that bad news spreads faster than good, and there are probably more good tenants out there than bad.
Thanks for the time taken to read this, and also the for advise I have already gotten from this site.
Eric