Im 35. Considering to start investing in Real Estate this year. Looking to buy 1 property to start generating cash flow, but most importantly, long term equity. No plans to sell. Condo or Single family residence. Considering booming areas like Austin, Vegas or somewhere with potential to grow. Will need local help, since I don’t live there (realtor + property manager). Already have 20% down, but considering putting less. All closing fees are also covered. Is this a good idea or should just wait?

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It’s hard to find a good deal in this market, but if you can find one, you should buy it regardless of macroeconomic trends. A good deal is a good deal no matter what.

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Not sure what the market is like in those areas but I would suggest a multi family property. 2-3 family. It’ll be hard to find SF to cash flow. If you do go with a condo or SF air bnb could also be a great option! If you find a good deal go for it, interest rates keep going up. Even if the prices cool down your cost of borrowing keeps going up.

I’d suggest looking in markets other than Vegas and Austin. Both have seen big boom over the last 2 to 5 years which will be hard to sustain. Try to find something a bit more tertiary.

Property taxes in Texas kill most cashflow. Also, Austin is around 2x more expensive than Vegas for a similar product.

Vegas rents aren’t as strong as other similarly priced cities. And the quality of tenant is much lower than other cities because it has so many transplants, many of whom get chewed up and spit out by the lifestyle.

Have you considered any other markets?

This is true

Good point! Yes, I’m open to other markets. Upstate NY (since I’m in NY) seems like a good option for Airbnb, but not sure if it would work for long term rentals. Miami (as I have friends in business there), but might be the same issue as Austin. Another options is a college town like Athens, GA (have connections there). Detroit, betting that the city will bounce back in a few years, that would be a wild card.

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