That depends. Are you looking in or outside of your backyard?
@Kim Heinrich I like markets that have good renter affordability along with population and job growth:
@chris tracy It has to be outside my backyard. I live in Southern California
I invest out of state and can maybe help you in your search for cash flow out of state.
There are so many markets out there where cash flow can be found.
I have found a few markets now that cash flow well. My criteria list is growing. Hopefully I will find exactly what I’m looking for soon. I am open to all suggestions. I found one area I really like but the homes are so old I am worried about repairs eating into my roi. I would prefer growing areas, homes built after 1980, $120,00-$200,000, roi above 25%
@Kim Heinrich Can you share the names of some of the areas that are cash flowing well, and also the criteria list? I am a newbie currently doing similar research and trying to narrow down on cities.
This is a bit of a broad question and you aren't giving a lot of info to go off of. When you say you found a few markets that cash flow well, are you talking about bigger macro-markets (like big cities) or random small markets outside of the big ones? Where or what are you currently looking at? An area with "old homes" doesn't tell us much.
Care to share more of that criteria list? Hard to make that broad of recommendations.
Sorry for the late reply everyone and thank you for taking your time to help. Here is a list of my criteria so far. I haven’t found any areas that hit all of these marks yet but hopefully one of you can point me in the right direction.
median income above 35000 +
Poverty level below national average. National 12.7
No Flood areas
No Flat roof
Population growth above national average .7-.9
Population above 150,000
Prefer main city or immediately surrounding area
No income tax states or low real estate tax rates