Market Suggestions Buy & Hold
Hello BP community,
I am looking to purchase my second property within the next 6 months and continue to build my portfolio from there. Currently, my fiance and myself live in southern California where it is just too expensive. After listening to the podcast and also Long Distance Real Estate Investing I am feeling more confident at looking into properties out of state. So I would appreciate hearing what markets do you suggest I look in to that have some potential for good cash flow and growth in equity. I would be looking into a buy and hold. Thank you in advance!
Regards,
Brad Fogeltanz
Good Afternoon Bradley,
That is exciting. I think the best part is looking at each market and seeing which could work best for you. I personally own some in Kansas City MO, Memphis TN, and Pottstown PA. I personally live in PA and full disclosure I am a Real Estate Agent here in PA. I think a lot of these markets are really good from my experience. I personally like the markets where we can get north of 1200 a month in rent. There is a couple of reason and would be happy to chat about it. But I really like the Kansas City and South Central PA markets the best. These are my personal taste because I know them and have properties in each. But I'm sure there are other markets in USA that work well too. I hear great things in the Orlando market too.
@Bradley Fogeltanz Here in Kansas City we have a solid cash flow market as well as solid appreciation historically. I work mainly with investors out of state and would happy to chat about the area with you to see if it matches up with your goals!
@Bradley Fogeltanz Start by quantifying your goals and which is most important--cash flow or appreciation. It's rare to have the best of both worlds. Typically, the Midwest cash flows well but has moderate appreciation. However, Indianapolis and Kansas City are experiencing unusually high appreciation. Median prices in Indianapolis are up 11.9% in 2020 YTD and up 8.9% in Kansas City. Both are also strong cash flow markets with growing populations, growing jobs (pre COVID) and diverse, modern economies and industries. If either of these two are on your radar I can help you.
Memphis is solid
@Timothy Lewis why it is?
I absolutely love the article from James Wise on Kansas City breaking down the various parts of KC.
https://www.biggerpockets.com/...
We have a lot of OOS investors and the market does really well here imo.
Columbus, Ohio is the way to go
Originally posted by @Kwame Amoako:Columbus, Ohio is the way to go
I agree with Kwame, Columbus has seen incredible growth and we have alot of incentives for industries to set up shop here!
Originally posted by @Bradley Fogeltanz:Hello BP community,
I am looking to purchase my second property within the next 6 months and continue to build my portfolio from there. Currently, my fiance and myself live in southern California where it is just too expensive. After listening to the podcast and also Long Distance Real Estate Investing I am feeling more confident at looking into properties out of state. So I would appreciate hearing what markets do you suggest I look in to that have some potential for good cash flow and growth in equity. I would be looking into a buy and hold. Thank you in advance!
Regards,
Brad Fogeltanz
I invest in Columbus, Ohio
Here are some cities that have been hit the most and the least through Covid with rent prices.
Originally posted by @Remington Lyman:Originally posted by @Bradley Fogeltanz:Hello BP community,
I am looking to purchase my second property within the next 6 months and continue to build my portfolio from there. Currently, my fiance and myself live in southern California where it is just too expensive. After listening to the podcast and also Long Distance Real Estate Investing I am feeling more confident at looking into properties out of state. So I would appreciate hearing what markets do you suggest I look in to that have some potential for good cash flow and growth in equity. I would be looking into a buy and hold. Thank you in advance!
Regards,
Brad Fogeltanz
I invest in Columbus, Ohio
Cool.
