New Investor - Which market to pick?

Investor · San Francisco, CA · Member since 2022 · 36 posts · 41 votes

Hello,

My name is Jason and I'm a new real estate investor. I'm having trouble deciding on a market as this is my first purchase. I plan to purchase a MRH in order to Brrrr. I'm familiar with the following areas either be because of college, friends, or family.

- DC/Alexandria, VA
- Blacksburg, VA
- Richmond/Henrico, VA
- Gainesville, FL
- Austin, TX
- San Antonio, TX
- San Francisco, CA (I live here)

I'm willing to look outside those markets, but would love to hear reasons behind that.

Thank you

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

Columbus ohio.. just beating all the Columbus brokers to the punch :)

personally I like Las Vegas for west coast investors..

1. some of the lowest property tax rates in the country

2. desert scape super easy for tenants to keep up with .

3. newer stock not 50 to 100 year old stuff that is cap ex heavy. IE stucco siding tile roofs etc.

4. no state income tax

5. super easy to get to 200.00 round trip from SFO and only takes about 65 minutes.

6. fun place to go.

7. buy nicer areas that have strong rents..

when you run ALL the numbers tax's cap ex on going maintenance you will find you can spend more get a very nice quality home that performs as well as homes that appear on paper to have better numbers.. PS I dont have anything to sell you and its just my experince of owing there and in 15 other states.

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Landon Whitt
Property Manager · Oklahoma city · Member since 2018 · 58 posts · 55 votes
4y
Right on point, pivoting to ideas like AIRBNB or Sober living homes is how we are pushing through until rental rates can catch up with the market value ratios. Statistically thats a 5 year lag.
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Nicholas MischPro Member
Investor · Broadview Hts, OH · Member since 2016 · 310 posts · 280 votes
4y
Cash flow and appreciation can be found in Cleveland and Akron.
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Tiannalyn Adams
Real Estate Agent · Member since 2022 · 2 posts · 0 votes
4y
Huntsville Al is definitely a market made for investors!
The demand for real estate and rental property is so strong that less than a four week supply of housing inventory listed for sale ( as of April 2022). Developers here in the Huntsville metro area cannot keep up with demand, so low supply of housing helps give you an idea of why rent rates in the city as grown by 18% ! Another reason why Huntsville one of the top cities worth any investors dollars!
The economy here in Huntsville is driven by a mix of private and public industry sectors including aerospace, defense, technology, and education. The strong job and population growth of Huntsville combined with a low cost of living and high quality of life helps explain why this area will still be a good investment for all investors beyond 2022.
Stats:
Population projected to reach nearly 530,000 by 2030
Has overtaken BHAM as the largest city in Alabama
Top industry sectors can be found in Huntsville ( NASA/ Marshall space Flight Center, U.S Army/ Redstone Arsenal, Boeing, etc.)
Home values increased by 28.2% in the past year
Average days of homes on the market being 8
Rent has increased by an average of 18%
Renter occupied households make up 42% of occupied housing units
So needless to say Huntsville Al is a top city for any investor to build their portfolio. Feel free to reach out if you have any questions!
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