Hi everyone! I am new to BP and so excited to be here, having read a few of Brandon and Josh's books. My wife and I are both teachers in NYC beginning our journey on REI. I am interested in the route of starting by earning passive income/cash flow from one of the cheaper out of state markets with less stress on short term or forced appreciation. What would you say is the best area to look at for long term rentals and good cash flow for a duplex in the 250k range? Any help would greatly be appreciated!
Realtor · Jacksonville, FL · Member since 2019 · 95 posts · 87 votes
5y
@Arthur Sorochkin
Good Morning Arthur and good for you and your wife to getting started in real estate. I just helped one of my customers purchase a duplex for 175K, put in overall 10K of work for both sides, and renting 1900/mo combined rent. I’m in Jacksonville FL where prices are reasonable. We also have a strong rental market, landlord friendly state, and governor who has kept us open through the pandemic except a handful of weeks which has been a huge plus for people to stay working helping the overall economy and investors.
Investor · Marin County California · Member since 2018 · 1k+ posts · 2k+ votes
5y
If your strategy is pure buy and hold (in contrast to forced appreciation through improvement) look for a trend of rising rents in the area - a sign of growth/consistently high and/or increasing demand for rental housing. Otherwise, capital expenditures and vacancies could eat your investment alive. Many areas of the country have stagnant and even falling rents - be wary in such places.
Hi everyone! I am new to BP and so excited to be here, having read a few of Brandon and Josh's books. My wife and I are both teachers in NYC beginning our journey on REI. I am interested in the route of starting by earning passive income/cash flow from one of the cheaper out of state markets with less stress on short term or forced appreciation. What would you say is the best area to look at for long term rentals and good cash flow for a duplex in the 250k range? Any help would greatly be appreciated!