I currently live in the Bay area of California and I am about to take on my first rental property.
However, I am originally from Texas and I will be building a new construction in Texas for a rental. My father will be the builder, who lives locally in Texas, and has a lot of experience in home building. As of right now including the lot, we are expecting to build for 100$ per sqft. Total sqft will be 1550.
The house we are building has been built before as a rental and has done very well.
We plan to be all in on construction and lot for 150k, and will rent the home out for 1500$ per month. The rental demand in the area we are building is very high, and supply is very limited.
I'm looking forward to starting (we start construction in two weeks) , and learning as much as possible. I would love to escape the rat race by the age of 30. I am currently 25, and my wife is 24 (she is a property manager here in CA and brings us lots of great experience).
We carry no debt, other than what we will have on the rental property, which will cash flow. I can't wait to get this one done, and start another one! Lets go!
Welcome to BP Jess and best of luck on the first deal
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