Looking to invest in my first property.
Hi, im new to investing. Im looking to buy my first property from a turn key company in about 1-2 months ..I live in California and want to invest out of state. For all of you that have experience what state and city would you invest in if this was your first property. Right now I have enough money to invest in a property between 50-100k.
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First, I would avoid the lower end of your range. Focus on buying properties that are pulling in at least $900 month rent. I started buying turnkey properties in 2012 in Jacksonville, but that is not the place I would start if I started now. JAX is still a good market but turnkey properties there no longer meet or are even close to meeting the 1% rule. If buying turnkey today, for me it would be in the midwest, and I would focus in on a market with a turnkey operator who provides an excellent service and who is trustworthy. Then there is the question of availability of product, as some of the best providers also have waiting lists. In any case, I would visit the market and meet any provider I was considering working with prior to closing on my first deal.