New to Real Estate and Looking for first property

[Thomas Grenier]

I'm looking to get involved in real estate for long term rentals. I graduated from Umass Amherst a few years ago and am trying to pool money with a few friends from college. I live in Boston Mass and have been looking at properties all around MA and nothing stands out to me. Home costs are high and seem to be fairly valued. A mortgage payment and other monthly costs would allow for minor monthly profit if any. I started looking into other markets and Toledo looks like a great area.

What are opinions on the Toledo rental market?

What are opinions on buying a first home nowhere near where you live?

Any other tips or market areas would be much appreciated.

[Allie McAlister]

Hi @Thomas Grenier

The exact reasons you mentioned above are the reasons why I work with a lot of our of state investors that are looking for opportunities in the market I serve, Memphis, TN. We have low entry points, very strong cash flow, and an ever-growing workforce that is constantly driving and growing the great tenant base we see here. 

I can't speak for Toledo, but I do know that we see a lot of 1% rule opportunities here in Memphis, and good opportunities to BRRRR as well due to the cash flow and low-entry point. The landlord friendly laws here are the icing on the proverbial cake.

Best of luck as you get started! Happy to connect further.