I am currently starting to search for my first Buy and Hold property. This morning I was looking at different counties in MA and RI near my location, but more specifically I was looking at school systems rated 6-10 (using Zillow). The questions that have come to mind from this is.... How do I decide where to invest? Should I look deeper into the towns with the best school systems to see if there are parts I should and shouldn't shop in? Should I get an analysis on population and crime and all those things on a number of these towns? Or should I just pick one town and stick with it to get to know it in an out? Is it possible and lucrative to only invest in a single town or should I spread out the portfolio? I look forward to hearing what you have to say and thank you in advance for your input!
@Matthew Charron There are different schools of thought. The people I follow and learn from tend to be in one camp: specialize. Find an area you wouldn't mind living in yourself, then take at least three to six months to learn it like the back of your hand - become an authority of knowledge on that area. Don't bother with an entire county - start with a single town/city.
I have literally owned property in every single city and town in this state and can tell you that you can find quality renters anywhere. Where we live, it should come down to your comfort level and cash flow. Our state is a big unique compared to other states. Taxes are pretty high everywhere, and there are only a handful of high quality school systems. You find the right property at the right price, and as crazy as it sounds, the location is secondary.