hI, advice needed

[gigant]

Hi,

Im a NYC resident and I ve saved $40K, currently unemployed, working part time

I want to invest part of tht savings, around $30K to buy a cash flow
porperty

My idea is to buy in cash a condo in a city with a decent job market and a
good local economy

I looked into Tampa and Miami where prices went down a lot and, potentially, i can also relocate there

Where should i invest? should i keep raise my cash and wait?

pls advice

thanks

[luke8000road]

a little complicated for me.

[RedCarpetSchool]

In my experience where ever you have a depressed real estate market most likely you are going to have a depressed rental market. If you are looking for cash flow do some research on what the market rents are like for the type of property you want to buy and how many vacant buildings or vacant rentals you have in the area. If the prices of homes are dropping and lasting on the market for long periods of time most likely the market is getting flooded with rentals and the competition rises.

[FONT=Times New Roman]The next question is why the prices are dropping? If it

[REITrainingWhse]

Hi,

Im a NYC resident and I ve saved $40K, currently unemployed, working part time

I want to invest part of tht savings, around $30K to buy a cash flow
porperty

My idea is to buy in cash a condo in a city with a decent job market and a
good local economy

I looked into Tampa and Miami where prices went down a lot and, potentially, i can also relocate there

Where should i invest? should i keep raise my cash and wait?

pls advice

thanks

Well, I would first know where you want to go, before you start down that road... You want to invest $30K, to get what in return? Then why was $30K selected? Of course another question is how much expereince/training do you have in RE investing?

Why are you interested in RE investing? (Hope it is not spurred from a RE late night infomercial.)

Then you can get into specifics of: demographics you want to serve, what area, what type of product, etc. etc. etc...

I recommend to EVERYONE that you need to have a game plan of what you want to do, break it down into steps, so you know how to get there, and then execute the plan. Don't just run into RE not knowing where it will take you, because RE investing can take you anywhere as well as places you don't want to visit.

That is my first suggestion... Sit down and plan where you want to be next year, in five years, in twenty... Then you can plan how you are going to get there, and then you can invest accordingly.

Later!