Rental Property Investor · Palm Springs, CA · Member since 2019 · 9 posts · 0 votes
My partner and I want to buy another rental property . What cities would you recommend? We buy fix and rent out. We use the Brrrr method. Any opinions?
@ Felix Vargas I may be a little biased but I can only speak on what i know. There are many areas in south central PA that are very attractive to investors, including myself. There is York, where you can buy and hold 2 units for 50k turn key..there is Reading where you can purchase just about anything with the property tax in many areas being only 1400 per annum. There is also Lancaster which is booming in every way imaginable but is geared more towards buy and sell.
I really like Houston, I just make sure to avoid floor areas. 4th biggest city in USA, 10%+ population growth, relative low costs, no state income tax, solid employment anchors (energy, tech, medical industries)
@Nathan Williams what do you mean by avoiding floor areas?
that was a typo, I meant flood areas, specifically anything impacted by Harvey. I had a property that narrowly missed being flooded by Harvey (waters pooled up beyond curb but just below the elevation of the property). That was too close to comfort for me even though some claim Harvey was a 500 year flood... and sold it to a area less likely to flood.
There was a podcast on this not to long ago a girl from colorado. PA is overpriced and taxes are high imo. However pittsburgh isn't bad. Its a matter of opinion really, but I think your looking out fringe markets that have lagged the hotter markets. However I would look for job growth, warmer climates, good taxes, 5% -7% appreciation. Schools and hospitals would also be a plus. Basically your looking at learning market research which is a whole another ball game. In my humble opinion if your newer and still learning the game, and you can't invest locally. I would just go out and buy some riets through the market many pay 5-10% dividends. With a whole lot less headaches. This will buy you some time to learn how to market research properly.