Hi, I’m new to BP trying to figure out what are the top states to invest in. I know every states has there good and bad neighborhoods. What states do you guys invest in? Any advice will be great. Thanks.
Would love to hear some opinions as well.
Would love to hear how Florida ranks on that list.
I would say any state that has high demand and low supply of places to live. Sounds simple but that's a good place to start. Then there are tenant friendly states like Texas which add a bonus. I would say places where the economy and the state is growing would be another good place. Places that have no more room to build new construction and have an increasing demand would be good.
It's hard to narrow it down to the whole state. Maybe you should start with Cities.
Thanks for the advise Greg, but how do you determine what the economy and demand is per town? Any suggested methods to do this kind of research? Thanks.
This is simply my two cent...
Detroit is a great rental market currently. Although, I haven't lived in Michigan for 10+ years, if you're willing to buy a property and put some TLC into it, the rental rates seem to be on the rise due to how badly the city was hit.
One thing to consider in this market, some properties may be subject to sale ONLY if you're a Michigan resident. However, from what I've read, this applies to the SFH being placed up on auction (BuildingDetroit.org)
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing