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Ramsey Blankenship
  • Rental Property Investor
  • San Diego, Ca
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Top three markets you are researching?

Ramsey Blankenship
  • Rental Property Investor
  • San Diego, Ca
Posted Dec 5 2017, 06:06

I recently moved from Panama City, Fl. to San Diego, Ca.   The real estate dynamic is completely different in Southern California so I am forcing myself to learn market research across the country. I am interested in the Top Three markets any of you are researching right now and why?  Here are my top three:

1.) Panama City, Fl. - Because I am familiar with the area and have a great team of agents, managers, cleaners, and contractors. Problem is, Panama City's market has grown exponentially over the past three years and deals are hard to come by (as I am sure is the case in most cities).

2.) Asheville, NC.  and surrounding areas - I simply love this city. One of my favorite places to visit, so therefor it is a place I would consider retiring. I have 8 years left in the Navy and want to hang up the flip flops and lace up my hiking boots. Asheville is another city that seems to have out priced itself however the surrounding areas have a decent amount of multi family homes. Asheville has a very large shortage of long term rentals, which is great for a landlord, however it has driven prices sky high any where near downtown. If I were to purchase in Asheville, I believe it would be in the surrounding area vs. downtown.

3.) Tucson, Az. - This is simply based on proximity to San Diego. Tucson seems to have ALOT of multi family and I have read articles that claim/prove that Tucson follows the Phoenix rental market. Phoenix has risen over the past three years and Tucson is showing signs of doing the same however the prices are still low. My concern with Tucson is the amount of MF I see for sale. This makes me wonder if vacancy rates are high and the Multi Family space is competitive. 

Essentially my top three are based on - A place I lived, a place I would like to live, and a place close to where I currently live. I am trying to break this mindset and invest in markets that make since financially, rather than proximity.  

Please participate in this conversation regardless of your experience, or even if you don't have three Markets.

Ramsey

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