BiggerPockets

Here's a link to a prior thread where investors talk about markets they are investing in .....

http://www.biggerpockets.com/forums/62/topics/37096-where-would-you-move-to-if-you-had-to-start-new-

I am in VA so that is all I know. Prince William County is still very low price and on the outskirsts of DC and right now have a very high appreciation rate. There are multiple offers on the homes currently. Also the outlying Richond areas are very good. Richmond's unemployment rate is 3.5%.
Kevin

I believe you can find profitable markets somewhere within most us cities. In my opinion, the best opportunities exist in areas that are run down and have been targeted by the city or state for improvements. In philadelphia these areas are called empowerment zones. Furthermore, if there are new developments already happening or better yet about to happen in or near that area, it gives you good reason to speculate growth there. I invest in philadelphia and believe that philly has some of the best investment opportunities in the country. Gentrification is happening all over the city, and high income home owners are actually buying beautiful rehabed and newly constructed homes in somewhat low income areas. There arent too many places where you have a trend like that! PM me if you ever wanna talk further about investing in philly!! Good luck!

From everything that I have seen, many of the homes in the hard hit areas of Michigan, Memphis, TN are great areas to buy right now. There are actually REO companies that are buying up these properties, offering to investors and they include all the management. Hope this helps!

Brad Stoller
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I have this great property to sell... Only kidding Jon.

I own property in Memphis and they cash flow great. I tried to manage them long distance and that did not work. Many people pay in cash and dont have checking accounts so I would factor in a management company when you are looking at deals.

Good rental areas would be in Texas, outside Austin (Round Rock,Pflugerville), San Antonio, and some areas around Dallas and Houston. Texas is one of the most stable economy in the country right now, however, cash flow is questionable (In the best areas you'll barely break even) but it is good long-term investment. If you're looking at good solid cash flow, middle/low to low income is the way to go. I'm doing really well in Birmingham, AL, but there are some other areas that worth exploring.

The most important driver in deciding on whether or not to invest in a market is jobs. Plain and simple. If the job forecast is trending up, that market would warrant further investigation.

If the job forecast is trending down (Detroit), I would back off. You see the problem with investing in a market like Detroit is that the decline in the job market may be permanent. Those jobs are not likely to return to previous levels.
When it comes to investing in your next property - go where the jobs are.

i think New York is the best place to have some property as it's a real investment, though the prices are higher in NY, but you can be sure that they will never get very low.
Besides it's the city with lots of opportunities!
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Eddie- my 154 units I bought in Garland couple months ago is down to 2 vacancies. Well over 10% cap and ripe for a 2-4% rent increase. It is possible to get good cash flow with proper investigation, excellent negotiation and capable management,imo. Rich

Rochester,NY was listed as the #1 (of 10) in cash flow property market by NuWire in '08. It really hasn't changed much. We have low property values which allow a greater cash flow opportunity. (we do have high property taxes, though but still ranked #1) We also have a high concentration of colleges here...(RIT, Uof R,MCC,Nazareth,St.John Fisher) I'd post the link to the article but I prefer to keep Jon on my side! :)