I am Vipul live and work in the San Francisco area. I have been casually following the forums but my wife and I are seriously looking at investing in rental properties.
We have about 100K to spend and wondering where would be a good place to start. I read OH, TX and FL as potential places to invest but I worry about the lack of proximity. I plan on using property management but still, proximity has its upside. Having something in CA would be nice but 100K feels like a laughable sum here and I also fret about CA pertinent landlord-tenant rules that make it worrisome to be a first time rental owner.
Cash flow would be nice but felt that places with good cash flow typically have lower than average appreciation. Btw, this would a longish term investment 10+ years. Any pointers on where we should look or whether we even have the necessary capital to start and absorb the risks?
Is there a market that meets your needs in which you have a friend or relative? I own a rental property that I haven't seen in years, but it's in a city where I know several people. I've occasionally asked a friend to drive by (ex, when the roof had to be replaced) for me and snap a photo. I like my property manager just fine, but it is nice to feel like you can double check on it.
Hi Cassie, I have some friends in the New England area but I am not particularly considering that area. Other than that I am pretty open geographically. TX does interest me and so does CA. But CA is fanciful thinking.
I agree that having a second eye if you cannot be there physically is a significant advantage.
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