Quote from @Masood Amin:
Quote from @Michael Glunk:
@Masood Amin What are your goals? It's hard to recommend a specific location without knowing what you are trying to accomplish?
Example:
1. Are you just about cash flow?
2. Do you want a market that has a better chance than others on appreciation?
3. Why type of properties are you interested in? Single Family, Small Multifamily etc.
4. Are you looking for a long term, mid term or short term rental? Or some combination of those?
The rust belt can look great at first glance because of the cash flow potential, but can be weaker in other areas (I personally own in Michigan). Areas like the Rocky Mountains can do decent on cash flow and very well on depreciation, appreciation and amortization. (Speaking to long term rentals here.) Short term rentals can do great on all aspects including cash on cash. But of course will require a bit more work and higher management fees if using a PM. These things are all manageable. (Note: In the Rocky Mountain region I personally invest in Colorado and Montana.)
1. Yes looking to cash flow
2. Yes looking for a market that will appreciate
3. Multi family
4. Preferably long term but I am open
Hey Masood! Have you considered trying your luck in the Ohio market? For Columbus, you would need to look for 2-4 units in order to cash flow. You can still find relatively turn key duplexes that cash flow here. But it is better if you can find a distressed property and force appreciate it. I can help you manage cosmetic to mid-size rehabs here in Columbus.
For Cleveland, you could find both 1-4 unit properties and cash flow well. it's more of a cash flowing city.
Turn key properties are definitely the easiest to manage, but I can introduce you to my network of people.
Hope this helps and if you're interested in exploring this market further, let's connect and discuss how I can assist you!
