which are the best markets for BRRRR, fix & flip and rental holds

Question

I'm looking to invest out of state. I am interested in BRRRR, a fix and flip and a multi unit rental.. Its so hard to choose a market... anyone have any suggestions on markets that have good deals and cheap houses?

Account Closed · Answer

@Remington Lyman and those taxes too. Can't forget about that. They are also through the roof.

Marc Winter · Answer

@Anthony Liguori, it's hard to beat NEPA--Greater Scranton area. There are great values for both BRRR and long term buy/hold--there are many deals with a 2% rule! PM me if you want more info.

Be safe, stay healthy and good luck!

Chris C. · Answer

what do you mean by this?

James Wise · Answer

Cleveland and various other "turnkey markets" are popular for long term holds as the prices are low and the price to rent ratio is high. Of all the "turnkey markets" Cleveland is the one I am most familiar with so I figured you'd get some value out of readingThe Ultimate Guide to Grading Cleveland Neighborhoods. I also have similar guides that you may want to look over for Kansas City, Missouri. & Birmingham, Alabama.

As for Flipping houses and doing BRRRR deals, neither of these are about the market. Flipping houses and performing BRRRR deals is about you and your ability to do the following.

• Raise / acquire funds
• Market to distressed sellers
• Estimate rehab costs
• Estimate the ARV of properties in your target market
• Manage contractors
• Hit timelines & manage large projects / employees

Remington Lyman · Answer

I second Columbus, Ohio. The houses are a little more expensive vs Cleveland or Cincinnati but our job and population growth are through the roof.

Zeke Liston · Answer

Columbus, OH is a great market @Anthony Liguori! My rentals are doing great here.

David Acosta · Answer

@Anthony Liguori - much of it will come down to your investment criteria and capital. When sizing it up, it's important to understand that you're buying the neighborhood/submarket, as opposed to the MSA as a whole. I would look at a couple of reports on the best performing cities -- IRR.com puts out a great one, and then focus on getting to know one very intimately.

If I had to throw out a couple of early considerations I would say Columbus, Indy, and KC. All the best moving forward!

Remington Lyman · Answer

Not if you drop and swap them successfully

Remington Lyman · Answer

Hide the transaction from the school boards using a drop and swap

Tom Ott · Answer

Cleveland, Ohio, or maybe one of the other major metro areas in Ohio. Prices here are still so low that you can easily hit the 1% rule without even trying!

which are the best markets for BRRRR, fix & flip and rental holds

which are the best markets for BRRRR, fix & flip and rental holds

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