I currently reside near Los Angeles, CA and have quickly recognized I am fortunate to own a home here but utilizing a buy and hold strategy will probably provide lower returns then other areas. I am open to looking outside the "local" area but for my first property I would really like to be within driving distance. I am utilizing a 300 mile radius which pushes me out to Phoenix AZ as well as most of Nevada. My first glance at these areas reveals I would have a much better chance of achieving the 1% rule in these areas. I was looking for contacts and guidance on these areas.
Ronald... The Reno NV market will be difficult to hit the 1% rule today, but this area is experiencing growth that it has never seen. With the development of the Reno Tahoe Industrial Complex companies that are moving here and will reach full employment in the next 3 year are Tesla, Switch, Apple, Amazon to name a few. It is anticipated that employment growth will be an additional 50,000 workers all needing a place to live!
I'm very active in this market so feel free to reach out at any time.
Thanks Tim! I will look into Reno.
I'm a Realtor/Property Manager and investor here in the Phoenix metro area. Message me, if you have any questions or want me to send a sampling of available properties here.
I'm happy to help in any way I can.
I'd agree with @Tim Farrell . I'm not terribly active in the Reno market currently as far as REI goes. I do however work with a lot of local investors, homeowners, and businesses regarding their insurance plans and have seen quite a bit of local and outlying growth. I'd love to learn a little more about the Reno REI market as well Tim. The more education the better right. -gd
message me and let's see how we can help