Where to buy and hold a rental property

Question

Where is a good place to buy and hold a rental property?

the purchase price can not exceed 300K,

should not have negative cash flow, after expenses and paying a property manager.

Nicholas L. · Answer

Wherever you live, or close to it

Cameron Tope · Answer

Best place to invest is where you currently have a competitive advantage, or where you're willing to put in the work to create a competitive advantage.

Best of luck!

Glen Wiley · Answer

The best place to buy and hold is where you can :)

1. Look at employers in the area - you want some diversity of employment so that if 1 company closes you don't lose a bunch of the population

2. Look at population/migration trends and futures. Read the census.gov site and do a few searches. You want areas that are trending positive for population growth.

3. Neighborhoods matter, even a few miles can make the difference between good and bad deals. Get to know the specific neighborhood, RE is hyper-local, there is no single market in any metro area, it is comprised of many micro-markets. This matters.

4. Deal specifics of course are a big deal - define your buy box and make sure the specific deal works (cash flow from day 1).

Michael Smythe · Answer

@Mendy Melamed depends on property Class you target and if you're paying cash or financing.

Our Metro Detroit market offers many Class B and C opportunities that will positively cashflow, even if you buy putting 20% down and finance the rest.

Please PM us for more details!

Where to buy and hold a rental property

Where to buy and hold a rental property

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