hello! beginner real estate investor in California with questions
Hi! I am new to biggerpockets and real estate and am looking for some answers. I live in northern California, and am ready to buy my first property anywhere in California or out of state. Which ever one is easier!
I have been reading books to gain more knowledge such as Rich Dad Poor Dad and How To Invest in Real Estate for Beginners. I plan on reading one book a week. If anyone suggests any specific one, let me know.
So far, I have learned that I want to buy a rental property, and use the brrr strategy. I want to find a good deal, fix it up, refinance, rent it out for cash flow, and hold it for equity.
My situation is kind of tricky for me, so I need some advice. I have enough for a $50,000 down payment and enough to fix up the property. However, I only have an income of about $20,000 a year, so I am not sure if that will qualify to finance a property. I was thinking 1.Are there any good rental areas in California that I could qualify for? 2.Would it be better to buy a property out of state where the prices are lower? 3.I was thinking about getting into a partnership. Would that be better?
I would love to Network with all of you. so if you can link me to more places I can meet more people and chat with about this stuff that would be awesome too!
If you just have a lot of experience in this area then also connect with me so I can check out your stuff and give you a follow or something!
Thanks!