I've been on the grind to find places to safely invest my cash and I've heard about real estate all my life. I decided last year I wanted to aggressively pursue this. With most of the markets being very difficult to purchase because of the prices, I started looking in the south where I knew the prices would be less appreciated. I know the Tennessee market as I have family there, so we decided to pursue this market.
I ended up purchasing a condo in Downtown Chattanooga, Tennessee for $247,00 dollars. This is now being rented out for around $1,650, while my Mortgage/Insurance and Taxes equal $1,150, so I am netting close to $500 in profit.
I then proceeded to buy a single family home as the condo did give me a little bit of trouble with the Airbnb route that I was going, I am still successfully running the Airbnb business (with a help of friend who runs his own Airbnb management company but it does make it harder because of HOA rules). I would highly suggest you find single family homes if you are going to try the Airbnb route that I went to get more rent.
In the video you will see I was able to purchase a single family home for $325,000 dollars. This is now being rented out for around $2,650, while my Mortgage/Insurance and Taxes equal $2,200, so I am netting close to $450 in profit.
I am closing on my 3rd property and the math for this will be, rented out for around $3,200, while my Mortgage/Insurance and Taxes equal $2,600, so I am netting close to $600 in profit.
Please leave questions in the comments of the video below!