Hi BPers, I am on the verge of starting my RE investment journey, but completely stuck on which market to go for. (I live in the San Francisco Bay Area, so investing locally is not an option financially for me). I've narrowed the options down to: • San Antonio • Lincoln • Cleveland My simple criteria was to go for 2nd/3rd largest cities (that have growing populations) in investor friendly states. I would like to start with 3/2 SFH OR small MFHs (ideally duplex) while I gain my REI muscles. My budget is 200k. Thoughts and comments welcome!

Hilda, there are thousands of threads right here on BP about Cleveland.

@Brian Garlington any suggestions in Cleveland?

Texas is a great market to start your portfolio. 200k for a Multi-Family is difficult to find, and if you do, you are looking at repairs. I suggest you define your criteria and make an offer on every property that meets these criteria. Make offers based on what that property is worth to you.

If you have 200K to spend that gives you a lot of options.

I suggest you try and stay local, I know its difficult to find a cash flowing deal (especially in the bay area) but you know your market and it would be harder to invest in your first deal out of state. You have to trust your out of state team, from your agent to your property manager. However if you have to go out of state I would say Texas, its a growing state and you 'd be able to find a great deal that would cash flow. Good luck!

I think you've narrowed down some great markets. Now, research some inventory in each of these markets to help arrive at your decision. This assuming you are looking to invest in the next 1-3 months. Run the numbers and pick the market that makes the most financial sense.

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Updated over 3 years ago on 01/06/2022. Most recent reply

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Nike OnyechiPoster

Investor

Starting Out

Which market to begin REI

Nike OnyechiPoster

Investor

Posted December 29, 2021 22:06

Hi BPers,

I am on the verge of starting my RE investment journey, but completely stuck on which market to go for. (I live in the San Francisco Bay Area, so investing locally is not an option financially for me).

I've narrowed the options down to:

San Antonio
Lincoln
Cleveland

My simple criteria was to go for 2nd/3rd largest cities (that have growing populations) in investor friendly states.

I would like to start with 3/2 SFH OR small MFHs (ideally duplex) while I gain my REI muscles. My budget is 200k.

Thoughts and comments welcome!

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