I live in California, I have 20k cash, it’s not much. But I want to buy a property in another state to rent it. I don’t want the expensive states. I’m thinking Illinois, Arizona, Florida. Any advice on which way to go? I don’t know where to start. Help! And if you can share with me price ranges it will help a lot.

funnylike
Posting as :
works at
You are currently posting as works at

You can’t do anything with 20k. Keep saving

likehelpful

I can tell you 20k down payment doesn’t get you anything in FL right now cus the rest of your Cali folks bought you app our property already.

like

Those aren’t good states. FL and AZ are expensive. IL isn’t landlord friendly. Save more or invest in learning.

Don’t forget to factor in closing costs.

like

I just went under contract in IL for a multi unit :(

funny

You should be prepared to have double that just to scratch the surface on deferred maintenance

(1) With only $20K, I’d suggest finding partners to invest with you.

(2) Download a simple cap rate excel model to calculate cash flow of prospective properties.

(3) Make a judgement call on the markets that present the best investment opportunities. If the cap rate is lower, then you need to believe the rent growth in the market will be sufficient to offset it in the long run.

The reality is that you just need to do it. You’ll learn as you go.

Keep in mind if you invest in lcol, those are the first to lose value

You don’t see rich people using LCOLs as stores of wealth. They buy property in places like DC, NYC, Miami, LA, and London

Keep saving. Buy locally. Think 2 family rent 1 side out, get roomates. Your first investment property should not be thousands of miles away, you have no cushion therefore no ability to take on that risk.

So guyz, what states are landlord friendly? California isn’t at all… thoughts?

Most red states

Search Millennial Mike on youtube. He has good content for out of state investing.

Related Posts

What is the retirement being offered?

like

I stopped contributing to my 401K for the last three months in order to pay off credit card debt. I am 28 and have about 68K in my 401K. Was this a smart decision? I want to get out of debt as quickly as possible and I have no student loans or car debt.

like

Can anyone share a referral link for Credible? It’s a student loan refinancing site. Thanks in advance!

like

What did you do with your RSU’s after it vested? Did you keep it or was it sold and reinvest to another stock/fund/etf?

My dad stole my identity a couple
years back and tanked my credit score
- brought it down to like 400. I've
been working towards fixing it so that
my boyfriend and I can buy a house in
the next year or so. This morning, I
checked my score after not looking at
it for a while and I'm in the mid 600s!
Y'all don't know how happy I am
about this lol

uplifting
like

Can we just take a moment to recognize how great of a human being Dolly Parton is. She knows how to do good with her wealth.

like

If I contribute to a solo 401k, is the additional profit-sharing contribution (the 25% of compensation after the $19500 contribution) based on my gross income, or is it based on gross income minus expenses? Thank you🙏🏼

like

Interested in starting AirBnB in SoCal.
1. Where do I start for gaining how to knowledge.
2. What’s are the best areas to buy the property for best cash flow and appreciation down the line.

like

Anybody have experience with JD-specific mortgage loans? I know BBVA offers one

like

How do you all make the decision of when to keep hodling or when to sell (or other strategies)? I’m definitely a believer of the bubble, but also think more money can be made...

like

People worrying today should read books on trading psychology! Not being patronizing- it will help you in the future, not just for investments but for doing better in life!

like

Laaa laaaaaaa lala wait till i get my money right (just accepted a PE offer woo)

likefunnyuplifting

Hi folks - anyone here is a realtor or was a realtor in Toronto before? Looking to chat with people who have the experience.

like

hello, in elss is mirrae tax saver good or quant tax plan?

like

Looking for someone who is trying to cut down on expenses and save more. Anyone looking to get financial freedom or save up for a new business by a certain time period?

like

Associates - Care to share your rough budgets (income, spousal income/family support, rent, monthly spending, student loan payments, savings, etc.)?

like

Anyone finding it harder getting managed money biz? If so, what changes or adjustments have you made in prospecting or sales approach? Thanks.

like

BakerTilly people, what application do you use to prepare your financial statements? Do you use word/excel?

likefunny

More Posts

Hii all,
I am currently having 4 offers:
1. Calsoft - Senior SDET - 17 LPA - ready to offer 24lpa + 1lakh Joining bonus.
2. McAfee - SDET Grade 6 - 23.5 LPA.
3. UST Global - Lead I - 21.5 LPA
4. Atmecs - Senior Automation Engineer - 22LPA

I am currently confused to join which company. Is Calsoft better than McAfee.? Also, is McAfee stable? Is there any firing of employees happened very recently because of organizational changes? Need suggestions. Thanks in advance.

like

Hi Folks,
I am looking for referral opportunity at SAP LABS India for Developer Associate role.
Please let me know if any is available. @

like

#LTI - Larsen & Toubro Infotech is hiring for multiple #Data job profiles.

Interested for below jobs opportunity can DM me with Jobcode
4+ Yrs exp

Python developer -JR Code 957669
Azure Consultant -JR Code 446367
Data Science Consultant -JR Code 446347
GCP Consultant -JR Code 446327
Abinitio Developer -JR Code 446287
QlikView/Qliksense Consultant -JR Code 446267
Bigdata - Pyspark/Java+Saprk/Spark+Scala -JR Code 446247
Snowflake Consultant -JR Code 446227
Informatica Consultant (MDM/IDQ/PC) -

like

I have an offer to do some consulting for a company based out of the UK (I am in the US). The job would not go through a consulting company but would be directly with the company. I have not done any consulting before so I am not sure how it works, what I would need to set up (they mentioned that I would start a LLC and bill them directly, no idea how to do that), how to determine the tax implications of this, or what hourly rate I would expect. Can anyone offer advice?

Is anyone's agency currently looking for a Senior or ACD position?

We are all sleep walkers (specifically in Europe) walking towards the second wave of corona virus cases and potential lock-downs even though we should all know better.
Change my mind!

like

Is it standard or common for ad agencies to cover egg freezing and/or IVF? It’s a common perk in the US

like

Recently decided to purchase a hair removal package for my face. They use Candela lasers. Can anyone attest to the effectiveness of this procedure?

like

Why does my left arm keep getting numb when I sleep on my back? Anyone experience this?

like

Hello, Can anyone refer me to TCS or any reputed MNC
Yoe 8 months
Java, Springboot

like

Digital/digitally-savvy PMs, can I pick your brains? I’m up for a Sr. PM position at a creative agency working mainly w/tech clients. My background is more print based, especially the last couple years. When I was working in digital, it was very straightforward (mostly static/animated banners with a little bit of social). Where can I brush up on digital trends? Which agencies’ work should I check out? Any blogs worth catching up on? Thanks!

like

What are the new technologies that apply to health plans products?

like

I prepared a presentation for an interview with a sales leader, it went well and I was offered a final interview with regional manager. The sales leader I interviewed with gave me a bunch of feedback, but said to find out information about tech stack, which I for some reason, didn’t consider. I come to find out that deep, hidden within the website of the hypothetical client, they use the service already. Do I roll into the final interview and play dumb or do i present and then come clean?

like

Anyone looking to sublease an apartment in downtown Chicago for the month of June ? I have a 1 bedroom in the aqua building(225 n Columbus) corner unit, fully furnished. 850 square feet, with a balcony and amazing views. Steal deal if someone is interested with an option to extend the lease.

like

Current:
15 LPA for 11 years experience
Brand & Marketing Role - Edutech industry

How do I scale up? And where do I need to be? How do I make it happen without switching jobs?

Hi guys!
Who is working two 1099 EA remote jobs at the same time? Or one full time and one part time. I might have two offers in two different industries that I love and I want to grow in both… 😅 I will be supporting one C-Level in each of them.

like

Not sure if anyone of you know but we EY india people got excel sheet to fill up for diwali goodies. Has anyone know what we can expect in diwali goodies?

like

In the context of being a Front end developer what cloud technologies/services should I know? Feel free to comment about the servieces of any cloud you know.

like

City of Detroit

like

Hi I have an offer from vmware as MTS3 as fixed 35LPA along with 6 LPA shares. But now i have an another offer pf 50LPA with no shares.can i negotiate with Vmware consdering the acquisition and also do vmware matches for the fixed part?

Additional Posts in The Real Estate Bowl

like

Any reason why the listing agent recommend I use a specific title company?

like

Are most new houses being built with induction cooktop? What has everyone experience been like? I personally had non compatible cookware with induction cooktop and wondering if I should just buy a new cooktop (electric, gas etc).. Other reason is that I read that it's also not healthy due to electromagnetic waves?

like

Good evening all,
With my partner we are considering making a move to the countryside of Switzerland, with a gorgeous RE project offering incredible views on immaculate mountains and lake. However, it is far away, and will require 1h+ train/car commute vs. 10 min biking right now. We are scared it will bite us back at some point, although COVID helped w/ remote working being a new norm. The project will be done 2024, so I hope to have a more relax job by then. Any similar experience to share?

like

Having trouble selling my (retired) dad's house. It needs a lot of work, but has great character. What if I buy it myself for a low, low price? Then I would be able to get a FHA 203k loan to do the updates. Rent it out or put it back on the market in the spring.

like

Is this legal?
After being mugged and having my things (including my keys) stolen, I was locked out of my townhome after business hours on a weekend. I was told on the phone when dialing my complex’s after hours number (which is managed by a 3rd party company) that my complex’s policy would let me in for a cost of $100 (as it was after hours). After I was let in, property manager informed me the charge was $200. Is there anything I can do here? This is in Minnesota. Help appreciated!!

like

Interested in starting AirBnB in SoCal.
1. Where do I start for gaining how to knowledge.
2. What’s are the best areas to buy the property for best cash flow and appreciation down the line.

like

I have a rental property and my tenant is asking me to change the fridge light burb. I live out of state and don’t have property manager locally. Is it bad if I ask them to change the fridge light burb themselves?

I’m pretty responsive for things they need help with like laundry machine got broken or pantry doors fell off. So I had sent people to fix those maintenance and repair issues.

But light burbs? Srlsy? They are grown up people (fresh out of college girls)

likefunny

Does anyone know what this means?
"Can anyone, other than you, claim a homestead interest in the property that will secure repayment of the loan?"
My spouse and I are applying for the loan and would like to be on the title.

like

idk if this is the right place to post but...
Ok so I was carless -- I was assembling my new bed frame and one as I was grabbing one of the long parts; I set it vertically and my fan was on and hit the edge. I literally just moved in 5 days ago and I already scratched these pristine fans, I'm irate and I want to fix it.
Is there any kind of paint. or is there a way to polish it so it doesn't look as bad :(

Post Photo
like

My partner and I close on our house this Friday at 9am and I’m just so happy. I’m a public interest attorney and we worked really hard to save. This was after 10 offers. Just wanted to share 🥹

likeuplifting

Hi guys! Looking to learn about real estate investing! I am a senior in college graduating with a degree in finance so I understand certain aspects, but am looking to learn more on my own about real estate specifically!

What books would you recommend I read?

like

What are the mortgage rates you guys are getting? Best I’ve heard is 2.5% (30year fixed) curious if anyone has heard better?

like

I’ve been thinking about getting into real estate investing. Not right now but later down the road. I’ve been trying to save up for a down payment. What are some good resources for a beginner? Blogs, YouTube, books etc I’m not looking for paid courses because I will be learning at a slow pace. Any help will be appreciated.

like

469k new construction
No washer dryer or refrigerator included
Added these at cost, downgraded to basic grey paint throughout, removed blinds and builder accepted 460. Feeling cheated :/

What would have been a better offer?

like

I have significant equity in a property (300k+) and maybe another 200k across other properties. I have a decent amount of money in cash and already 200k or so in stocks. Would you consider pulling money through cash out refi and using it? I get nervous for stocks being so high. I have a few properties in pipeline already. How would you suggest using it (if at all).

like

Couples without kids, how do you justify buying a house and paying school taxes? Almost all of the good residential areas are with a high school tax. Just curious if childless couples can ever buy and live in nice areas or rent forever

likehelpful

How much should I invest in buying a HOME as my primary residence.

Current TC: 200k
Net worth: 300k, readily available 170k in stocks, hysa and cash
Current rent: 2000 per month
Age: 30

Wonder if anyone has any excel model or a rule to determine how much I can afford or should go for?

like

We are renovating a condo and the previous owner had two Crane toilets (not sure how old, but functioning although seals are old according to our contractor). Back outlet flour mount ones are the only options for the building, and one toilet can cost $300-$500.

We are redoing all the bathroom tiles and walls and debating what we should do with the two toilets. Would resealing the toilets extend the use life? Or should we just replace the toilets? Any other recommendations? TIA!!

like

I recently bought my 1st home in TX. I want to get into real estate and eventually own/rent out multiple homes. Are there any good recommendations/tips on books/articles/websites that others have used to get started?

I've read about HELOC and cash out refinance to get a 2nd home but articles are so scattered that it gets confusing which is better in terms of tax benefits and immediate costs, etc. Anything others have found helpful that summarized how to get started would be great!

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal