Updated about 8 years ago on . Most recent reply
Looking for new markets
I have been investing in real estate for the past 10 plus years and have numerous rental properties throughout the Minneapolis/St. Paul area. Over the last three years, the market has become grossly over-priced from a buy and hold perspective. The last 15 or so properties I have purchased have been in an area about 2 hours north of the cities which has been great. I am looking to diversify out of state and am looking for suggestions for areas with good investment opportunities for buy and hold. I want to buy about 5 properties per year. I am indifferent between single family to multi-family as long as the numbers make sense. My thought is that I would like a market with at least 150,000 people in the metropolitan area so it has a good tenant base however not too large as to attract larger investors such as institutional investors, pension funds, etc. Any suggestions would be appreciated. Thank you.
Most Popular Reply
@Tyler Anderson The key is to find a great team! Ideally you would find a company that has everything under one roof. Acquisitions team, renovation crews (fully licensed and insured), Property Management, and a Real Estate Investment Brokerage in case you ever decide to sell.
By teaming up with a solid firm you can mitigate your risk and have some "boots on the ground" that have your best interest in mind.
Memphis has a lot of opportunities. I'd be happy to discuss in detail the reasons why and show you why so many people choose to invest here.