Not that I want to be some slum lord, but rental property for under 100K in CA is basically impossible.

Any suggestions?

 

Bellville, Illinois

 

I think you can still buy a house in central CA for less than $100K.

 

This isn't unreasonable but could be difficult, here are a few possibilities, condos, apartments, I would also consider district foreclosure auctions, cash on hand is a "must", alot of variables in this last option, but trust me this is the most lucrative.

Rich, find knowledgable people to work with, realtors, escrow agents, attorneys, lenders - "your wife" people known to do this kind of thing, once you establish that, you know the deal with the financing! Even though you're looking for low income investment property, don't exclude other areas that are well known for progression, properties possibly in pre-foreclosure

Like I mentioned to another S2KI member accumulating 30 properties is doable, however the lender will require a higher down, to protect themselves from default, typically 20%. Then again every lender varies. So again, shop around for a lender that strictly does financing on investment properties so you anticipate your cash down and so forth, for each and every transaction ahead of time . . . this will save you Time! Most importantly is the return you net (yield) within your desired time frame, can't go wrong with location, however in regressed parts of town watch out, in this situation you're only gambling if the property isn't debt servicing itself.

Just a couple things to think about, don't rush!

 

You can buy a nice house in rural Iowa for less than $100K. Either that, or I'll sell you my garage for $99K. You can fix it up and rent it out. Oh, Alaska is another option.

 

Rich, when I move to SoCal next year, we'll have to go into business together. I like how your mind works!