[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]
Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.
Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.
