{"id":177016,"date":"2024-08-28T14:49:12","date_gmt":"2024-08-28T20:49:12","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=177016"},"modified":"2024-08-28T14:56:55","modified_gmt":"2024-08-28T20:56:55","slug":"best-markets-for-new-investors-fall-2024","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/best-markets-for-new-investors-fall-2024","title":{"rendered":"Where New Investors Should Be Looking to Buy This Fall"},"content":{"rendered":"\n

When I think about the best markets for new and aspiring investors, I heavily weigh the factor of <\/span>having no<\/span> experience in this business.<\/span> New investors should be looking for what I like to call base hits or singles on their first deal. Swinging for the fences takes the most <\/span>amount of<\/span> effort, and will substantially increase the chances of you striking out.<\/span><\/p>\n\n\n\n

Okay, enough analogies\u2014you get the point I’m trying to make: If you try to find deals with astronomical returns, you will likely miss out on a <\/span>great<\/span> first opportunity by overanalyzing or overleveraging. <\/span><\/p>\n\n\n\n

As we head into the fall, the real estate market is showing signs of massive excitement, with Fed Chairman Jerome Powell\u2019s <\/span>recent Jackson Hole speech<\/span><\/a> pointing to the potential of rate cuts in September\u2019s FOMC meeting. Slight decreases in buyer activity are <\/span>very<\/span> typical for this time of year, but this year may be the best time for new investors to crack into the market. This fall could be ideal for those ready to make their first move as long as they remain strategic and patient in their search.<\/span><\/p>\n\n\n\n

Analysis paralysis has to be one of the biggest excuses I see when it comes to first-timers trying to find the perfect property. <\/span>If <\/span>nobody has told<\/span> you yet, <\/span>there is no perfect property waiting for you out there<\/span>.<\/span> Having time in the <\/span>game of real estate<\/span> will be your biggest asset, no matter how good a deal may look on paper. The longer you own, the better <\/span>chance you have<\/span> of achieving your financial goals.<\/span><\/p>\n\n\n\n

Instead of letting the fear of not finding the right property ruin your search, the other common mistake I see is overleveraging yourself right out of the gate. Your first deal will not bring in the revenue to consider quitting your day job, yet this hyperinflated expectation still lingers in the minds of many first-timers. <\/span><\/p>\n\n\n\n

Embrace the grind and learning experiences that will come during your first few years as an investor. Having realistic expectations with a longer time horizon will help keep you level-headed in <\/span>tough<\/span> situations and shape your decision-making skills. <\/span><\/p>\n\n\n\n

Now that I\u2019ve shared some insights into my own investment philosophy, hopefully, you will understand why I have selected the following markets as the best locations for new investors to consider. I am not showcasing completely unaffordable areas with massive appreciation rates nor markets that are \u201cup and coming\u201d and need additional capital for massive upfront improvement costs. Here, I will share the best markets for new investors to start building the foundation of their portfolio, with consideration to long-term, stable, and relatively low-risk properties. I will also provide any reason for hesitancy in investing in these markets, as every metric is not going to be perfect.\u00a0<\/span><\/p>\n\n\n\n

Below is a map of the data I collected with all of the important stats included:<\/p>\n\n\n