please--any opinion on 1st step

OK–i am a “newbie” >:( I have 45K to start. i have gone to some seminars ----talked to people…with differing thoughts. At 1st, thought i would by a duplex or 2—found a few that cash flowed around 300. out of state (buffalo). Theses would be cash deals. Then i thought maybe i should dive in with something a little bigger 8/10 units and finance. People have said i should start out with some SFR. So many possibilities–even thought about doing notes-----i know i need to act----but do not want to totally blow it —since i have a little cash. At the same time --i do not want to get caught in the analysis/paralysis syndrome. Any thoughts—would be appreciated!

It sounds to me like you would like to buy and hold…You want to be a landlord, correct?
For your first investment , I suggest buying close to where you live and taking as much of a “hands on” approach as possible. If it was me - I would be apprehensive about buying a multiple unit building right away. Perhaps you should become more acclimated with the profession by taking on something smaller first, maybe a duplex or a triplex. I assume you want positve cash flow and I understand that this is more attainable in larger buildings but take it slowly at first. You don’t want your first investment to be your last one…:slight_smile:
Or maybe your approach should be in rehabbing instead. Doing so eliminates the tenant management problem and it sounds like you have enough $$ to get started.
Good luck. stay positive, be persistant. ~ Mike

I am in CA—too expensive right now —for rentals. that is why i am looking NY,TX NC etc. Thought i would get property management. I think the same would hold true for rehabs—CA—is a bit $$. …to make any $. IS it to risky to do something far a way?

I have zero experience with out -of- state investments. I have owned s.f.h’s. in nearby cities , here in the mid - Mich. area. I manage my own property and do most all repairs so out of state ownership wouldn’t work in my sit. But maybe ,for you, it is the best option. Housing is almost too affordable here in Michiagn area (read: Poor economy) so affordability is not a problem.
Perhaps others in this forum could be more helpfull. I wish you luck.