Looking to start investing on rentals... any thoughts?

Looking to start investing on rentals... any thoughts?

Investor · Pembroke Pines, FL · Member since 2020 · 17 posts · 11 votes

Hello to the BP community. I have been so impressed by many of you that have simply given back to the community with great guidance and worth a lot! Looking for your guidance once more on a simple topic: Where should I invest (markets) or should I hold? I am looking to BRRRR or simply buy and rent with a high cap rate.

A) Any suggestions which markets have the best opportunities?  Looking to buy a couple of properties with the goal of increased cashflow, high cap rate, etc. 

B) I have heard from some of you to hold for a few months as inventory is likely going to start opening up due to foreclosures/shortsales, gov restrictions on evictions, etc.  Should I hold or should I continue with A)? Looking for your hones opinion. 

Thank you very Much!

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Omaha, NE · Member since 2020 · 612 posts · 665 votes
5y

Omaha is great. It's my home market. I'd actually not be afraid of Denver, even though it's quadruple my prices here. Denver has plenty of upside left, but a bit more risk in a downturn. Kansas City is super hot. Des Moines, Sioux City, and Sioux Falls are all stable and consistent. Those would be my pick. Iowa is better for taxes. Nebraska is better for appreciation, based on my research.

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  • Investor · Pembroke Pines, FL · Member since 2020 · 17 posts · 11 votes
    5y

    Wow @Alecia Loveless that is an awesome post... thank you for taking the time and for your recommendations! I was not even aware that you get calculators, etc. with BP pro. Right now, I am using my own investment spreadsheet and I am sure there are toons better out there.  Thanks also for the book recommendation.  I will definitely check it out.   Looks like you and I have similar investment objectives.  Let's connect if you are open to that.  thanks again.

  • Investor · Pembroke Pines, FL · Member since 2020 · 17 posts · 11 votes
    5y

    @Brandon Goldsmith thank you so much.  Looks like OH seems to be a winner across multiple replies.  I now have my investment strategy documented and vision.  Part of what I would like to do is invest where there is appreciation and cashflow.  I am in for the long term and will be investing regardless of the market. Seems like everyone is in the same page are in consensus that this should be the approach.  Thank you again Brandon.. I appreciate it. 

  • Investor · Pembroke Pines, FL · Member since 2020 · 17 posts · 11 votes
    5y

    Thank you so much @Wale Lawal.  Consensus is OH... going to start doing my research there in the next couple of days!! thank you again!

  • Investor · Pembroke Pines, FL · Member since 2020 · 17 posts · 11 votes
    5y

    Thank you so much @Zeke Liston great advise!!! I appreciate it.

  • Investor · Pembroke Pines, FL · Member since 2020 · 17 posts · 11 votes
    5y

    Thank you so much @Benjamin Aaker for taking the time to send me that reply.  This is really good advise that will definetely help me.  I hope this advise helps others as well.  You bring some very valid points... thank you so much again! 

  • Investor · Pembroke Pines, FL · Member since 2020 · 17 posts · 11 votes
    5y

    Thank youi @Remington Lyman

  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    5y
    Originally posted by @Amado Cruz:

    Thank you so much @Wale Lawal.  Consensus is OH... going to start doing my research there in the next couple of days!! thank you again!

    Congratulations on completing the first phase.

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