Planning to buy my first investment property
Hi,
I live in bay area and I am planning to buy my first investment property. My budget is around 600K-650K. Would love to hear any suggestions on where I can invest. My first choice is bay area but it is too expensive and I don't find any homes for this price range to see a a breakeven/positive cashflow every month. I am majorly looking for the appreciation on the property but at the same time I would like to keep the monthly out of pocket towards the mortgage and taxes to a minimum. May be from breakeven till $1000. Really appreciate any suggestions and guidance..
Thanks!
Most Popular Reply
Some decent cash flow areas in that price range are Pittsburgh, Bay Point, Vallejo, Richmond. East Oakland still has some properties that work as well. Occasionally I see a MFR that even hits the 1% rule. Cash flow does tend to be higher out of state, but equity tends to be better here.