San Diego Housing Market News and Analysis
Investing in multi-family - Looking for a mentor / advice.
User Forum Topic
Submitted by saiine on August 14, 2018 - 5:54pm
I've thought a lot about my next step in real estate lately and continue arriving at purchasing multi-family (4-6 unit) outside of San Diego (and all of California for that matter).
From my research, cash flow on day 1 is much more likely in other parts of the country. I am specifically looking at Kansas City, Indiana and Atlanta.
My situation (late 30's, no kids, single, good income, 1 condo with about 150 in equity in San Diego, retirement portfolio is good).
I'm looking specifically at spending 50-80k (20% down and conventional financing) and hoping to net at least $250 per unit.
My long-term goal is within the next ten years to establish a portfolio of rentals that produce 10-15k in passive rental income.
While I am spending a considerable amount of time on BiggerPockets and other resources just trying to soak up knowledge, the pigs have never failed me in the past and have always offered sound insight.
Naturally, I wanted to come here and ask, has anyone gone down a similar road? Any thoughts or lessons learned you would like to share?
~Active forum topics~