Boston Area, MA · Member since 2017 · 34 posts · 30 votes
Hi guys! I’d love your help!
I’ve lived in the USA for 5.5 years in San Francisco (4yrs) and I’m currently living in the Boston area (1.5yrs). As you know these are expensive areas to invest, so I’m looking to invest out of state.
I’ve been researching lots of states (Texas, Nevada, Mass, Connecticut) and cities (Phoenix, Atlanta, Salt Lake City) but I feel so overwhelmed with the choices! I have $45k to use as a down payment and closing costs. Ideally I’d like a four plex.
I have been looking at cities with a growing population, multiple industries and low unemployment.
I would appreciate any guidance you may have to help me narrow down my state and city search. Please share your insights and any articles you may suggest I read.
I am ready to invest and would love to buy my first rental property within the next 1-3 months!
Rachel Steenland
We were in your same position just over a year ago.
As a result I have extensive research on the entire country.
If you know what you want I can point you in the right direction.
Are you looking for cashflow, appreciation, or a bit of both? Multi family or single? Budget?
From there I can suggest several markets for you.
@Rachel Steenland You need to start by clearly identifying your objectives. Those are all very different markets and are all over the map, both literally and figuratively. In looking at your list, I would have no idea what your goals are. If it's cash flow, neither of those markets would be on my radar.
Interesting thread. you have garnered a lot of people's attention. Once you decide to invest out of your backyard I suggest looking for a market where you know someone or have some sort of connection to. Someone is making money in real estate in every market. So it isn't so much about picking the one right market as it is working with someone you know and trust. You can pick any market from any of the top 50 lists of "best markets" and find a deal. Eliminate as many variables as possible by working within your network to hone in on a market you will do business in. Best of luck to you!