BiggerPockets Real Estate Podcast Can You Still Find On-Market, Cash Flowing Rentals in 2024? (We Found Some)
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Nov 6, 2024 Ashley Kehr, a savvy investor in Buffalo, and Henry Washington, an expert in off-market deals, team up to reveal how you can acquire cash-flowing rental properties under $75,000. They showcase three real, on-market deals that meet this budget. The duo discusses the vibrant rental markets in Buffalo and Racine, along with strategies for identifying lucrative opportunities. They emphasize the 1% rule and share insights on maintaining cash reserves, all while debunking myths about needing a large budget to succeed in real estate.
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Investing $75,000 in Real Estate
- If you have $75,000, consider investing in real estate.
- Look for on-market deals, excluding house hacks, and factor in closing costs and renovations.
Rookie Investing Strategy
- When starting, focus on low-risk deals in your local market to leverage existing connections.
- Prioritize properties under $200,000 with light value-add potential, like adding a bedroom.
West Seneca Appreciation
- Buffalo's West Seneca area offers good appreciation potential due to job growth and proximity to higher-end neighborhoods.
- A modest 45% appreciation over five years is plausible, along with cash flow and mortgage paydown.