Might Get Into The Game
So I have worked with real estate but have yet to buy any myself. Seeing a Tax problem this year and getting all my bills paid off, i think it is time to invest. But is seems like a may be a few years to late. In california, you cant buy positive cash flow SFR. So i have looked into Nevada and it looks like it is close to breaking even.
Heard Fernly is a good spot because a big rental market is there. Any other areas I should look at, that I could drive too? Im in Sacramento.
Or maybe I should wait until I can get enough down for a larger unit?
If you are looking for cashflow. Maybe you need to focus on getting properties at deep discounts or buying property subject to the current owners financing. Which is a lower interest rate.
thanks for the assumable loan idea. sounds like an idea
Look into Kingman or Bullhead City Great Lease Option places with the market. We have been doing about 5 homes a month there under 200k
I have known for years that "you only buy rental houses close enough that you can drive to them twice a day!". Every time I break that rule, I pay a Big Price!
Every Rental house has Positive Cash Flow!
It is a personal option of yours to put on a loan and how big the loan is. Several options on loans you can consider; Interest only, Amortized over 40 years, 30 years, or 20 years are all pretty common, especially if you are dealing with a motovated seller that has the ability to carry back.[ Edited by pmatheson1 on Date 05/18/2006 ]