I'm young! Where should I buy?

**realstater0** · 08-02-2009, 10:37 PM

I agree with this factors..

Don't skimp on doing a background check on renters
Make sure you don't mind being a landlord
Don't purchase a property which is in poor condition...
Make sure you can afford not having a renter for 3-6 month

This is really what you need in your problem..

**sunnyalo** · 08-05-2009, 03:45 AM

First of all congrats for a young guy in 20's get in to the Real Estate field. My humble advice for you are:

1. Better work with an experienced Real Estate Business man for few months and starts learn the industry.

2. Always make sure that you have enough backup and don't be panic on some naughty falls

3. Have full dedication to your business and avoid all other stuffs (I am sure u know)

**LeadGenerator** · 08-13-2009, 07:06 AM

I would personally look into the most hard-hit markets and see which one in my opinion is way undervalued right now.
If it was me, I would still choose FL or NV. just my opinion, I am not an investor myself though.

**theieu** · 08-13-2009, 07:25 AM

You may want to consider to buy in Tampa, Florida, I think there are great investment there.

**seattle realty** · 08-13-2009, 11:54 AM

To be honest, it doesn't really matter what type of home you buy. At the end of the day, when it's an investment property it's about cash flow. Does the property cash flow positive. Does rent cover the mortgage, property taxes, insurance, maintenance, etc.

If it doesn't you can also look at the cap rate (capitalization rate). It is basically net annual income divided purchase price. In some cases you're able to get over 10% which is really good. Think, apartments generally go for 7%.

I hope that helps.