What state/cities would you recommend for our state rentals?

Question

Hello, I’m looking to start my rental portfolio with out of state rentals. Few questions that have.

-What cities or state specifically would you recommend for out of state rentals?
-what metrics should I consider when looking at property or when selecting location?

Sam McCormack · Answer

Few very important things include when looking are things like jobs/population growth (population follows jobs), how is the crime?, etc

Don't make it super complicated

Travis Biziorek · Answer

Hey Karim, I'm hugely bullish on Detroit and have been since I started building my portfolio there in 2019.

The city is undergoing a major revitalization with a ton of public and private money coming in.

The best part is you can still find strong cash flow deals even with today's interest rates. If you're looking for cash flow, the number one metric you should be looking at is price-to-rent ratios. Pretty sure Detroit blows most all markets out of the water there.

Peter Dorinsky · Answer

Hey Karim, I'd suggest researching the Columbus and Cleveland Ohio markets. The Cleveland market is a strong cash-flowing market with low cost of entry and strong rents. The Columbus market is also a strong hybrid market with a blend of cash-flow and appreciation. Columbus is a rapidly growing with many new and existing companies expanding their business in the market. If you're looking for cash-flow and appreciation, Columbus might interest you.

Karim Elahi · Answer

@Travis Biziorek thank you for the input. I'll definitely look into it.

Patrick Drury · Answer

@Karim ElahiI would recommend looking in the Midwest. Columbus, OH is a great place to start looking in the Midwest. It's a nice balance of cash flow and appreciation. Also, it has lots of job opportunities and population growth. I also live and invest locally here in Columbus.

Ali Nichols · Answer

Hey Karim welcome to BP and congrats on getting started. Lots of good suggestions above. And a lot of different directions you can go based on your goals & budget.

Karim Elahi · Answer

@Caleb Brown are you an agent there? If you’re confident and numbers reflect that let’s connect and learn more.

Caleb Brown · Answer

I am biased but Kansas City. Great mix of appreciation and cashflow.

What state/cities would you recommend for our state rentals?

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