Advice For Beginner. .. Confused As Of Late.
Ok so I have been interested in real estate investing for quite a while now and I am ready to jump into actual investing. But every time I research areas and places, I can never seem to get the numbers to work. After adding up the mortgage, taxes and possible fees, I always end up in a negative cash flow situation.
So I would like to seek some advice from others. First I am in California and California is currently out of my range. So I am looking to outside of California. I am more interested in the side of buying, holding and renting. I have about 65K to use.
So what I would like to know is, would investing outside my area be all right for a first time investor? I currently am a renter myself, but I don’t plan on buying a home to live in for a couple of years. (Until I feel the California real estate has calmed down)
Also what are my choices? How should being an out of the area investor affect my decisions and choices?
Side notes about me:
My goals are to buy and hold but have no problem dealing with fixer uppers and sell. I can dedicate almost full time to this. I am willing to take on high risk if there is high reward but I prefer a moderate risk because I am thinking long term.
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