Which markets to start in
hello, I have been reading the forums, articles, and recommended books.
I'd like some opinions.
I'm a single mother, with a year left of nursing school. I am looking to invest in real estate and reach financial freedom by 35 (I'm 25.)
I'm not sure the best way to go about this.
Currently my income is about 24k due to being in school. After it will only by 46k to start more than likely.
I would like to house hack using fha loans. However, the market I live in is quickly emerging into a housing crisis area. I live SLC, utah. I do not think i will be able to afford a four plex under 600k. I will continue to watch and research.
I am wondering about markets where housing is very cheap but rent is ok such as 650+ with room for growth.
What cities/states other than detroit are cheap?
Has anyone who is not a detroit resident purchased a home from the building detroit land bank? They seem to have gotten a monopoly on the properties under 15k and I'm not sure if I could buy from them under an LLC?
If I'm buying cash, which if I could purchase a home under 15k I would, I will do so with my llc.
I haven't made one yet but I will when I start my investing.
What other cities have property that low?
If I bought a property cash for between 10k up to 15k, would it be hard to get a home reno loan of 15k (or around that mark)?