Best Market under 250k

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Best Market under 250k

Jonathan Orr
Developer · Boise ID · Member since 2016 · 287 posts · 110 votes

Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?

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Brian Mineau
Flipper/Rehabber · Columbus, OH (columbus oh) · Member since 2020 · 23 posts · 38 votes
2y

If the investor is looking for properties 6 units and below you can still enter several markets in ohio at that price and the units will be either turn key or close. With decent cash flow. For example 4 unit with 2/1s rents for $850 a unit and building sold for $230k

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Jonathan Orr

    You can find investment properties under $250,000 in various Southern US markets like Atlanta, Jacksonville, Birmingham, Memphis, New Orleans, Houston, San Antonio, and Nashville. These markets provide budget-friendly housing options for single-family homes, small multifamily properties, and rental properties. To discover suitable investment opportunities, it is crucial to conduct thorough research, analyze local market trends, assess rental demand, consider job growth, evaluate neighborhood dynamics, and anticipate potential appreciation. Collaborating with local real estate agents or property managers can offer valuable advice and support.

    Good luck!

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  • Jordan RayBusiness Member
    Real Estate Agent · Memphis, TN · Member since 2023 · 642 posts · 333 votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?


    Hey Jonathon! I am a featured agent in Memphis, TN and I am helping many of my clients achieve purchase prices like this all the time! I am buying properties with these numbers too! Investing under $250K is more than doable in this market! Let me know if I can help in any way! Talk soon!

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  • Edward Eustace
    Member since 2019 · 5 posts · 10 votes
    2y
    Quote from @Brian Mineau:

    Dayton and Cincy for sure, outskirts of Columbus and Cleveland as well. I agree there Dayton was rough 2017-2019, it has turned around for sure.


     That is exactly why I am selling my rental in Charleston to invest in the Cincinnati and surrounding areas, tons of great deals. 

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  • Brian Mineau
    Flipper/Rehabber · Columbus, OH (columbus oh) · Member since 2020 · 23 posts · 38 votes
    2y

    absolutely there are!

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  • Brendan Harrison
    Real Estate Broker · Tulsa, OK · Member since 2020 · 157 posts · 67 votes
    2y

    Investing in the Oklahoma market, especially areas like Oklahoma City (OKC), can be a smart move, especially if you're targeting homes under $250,000 for rentals. Here's why:

    1. Affordability: Oklahoma offers affordable real estate options, making it easier to acquire properties in the desired price range.

    2.Rental Demand: OKC has a steady demand for rental properties, particularly in the affordable housing segment, which can ensure a consistent income stream.

    3.Economic Growth: The state's economy, including sectors like energy, aerospace, and healthcare, contributes to a stable job market, attracting renters and supporting property values.

    4.Investor-Friendly Environment:Oklahoma's landlord-friendly laws and reasonable property taxes make it favorable for real estate investors.

    5. Diversification:Investing in different markets like OKC can help diversify your portfolio and reduce risk.

    Encourage your fellow investor to explore the Oklahoma market further, as it presents promising opportunities for building a profitable rental portfolio within the specified budget range.

    2Reply
  • Samantha Fedor
    Property Manager · Cincinnati, OH · Member since 2024 · 64 posts · 69 votes
    2y

    Can't help but second everything said about Ohio! If you/your friend ventures down to Cincinnati/Dayton feel free to DM me.

    2Reply
  • Lindsay DavisBusiness Member
    Real Estate Broker · Birmingham, AL · Member since 2019 · 326 posts · 203 votes
    2y

    @Jonathan Orr,

    If that investor is on a $250,000 per rental budget and also “dead set on the South,” then plenty of Sunbelt cities could be a good fit. Beyond what’s already been mentioned in this thread, areas like Chatanooga in southern Tennessee and Montgomery in central Alabama could work as well.

    Huntsville, Alabama also comes to mind, though it’d be more difficult to find a rental within the city limits on your hypothetical budget of $250,000. However, you could make that budget work in surrounding cities (still within the Huntsville metro area) like Decatur, Hartselle, and Athens.

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  • Greg ParkerBusiness Member
    Realtor, Contractor, Property Manager · Montgomery AL and Kowaliga, AL · Member since 2017 · 663 posts · 536 votes
    2y

    You can get 2 houses in B areas in Montgomery for $250,000.  125k house will rent for $1,050 -1,150.

    And, second lowest property taxes in the nation behind Hawaii.

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  • Lemuel Bolanos
    Real Estate Consultant · Member since 2020 · 17 posts · 5 votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?


     We have plenty to offer here in that range in Oklahoma. Let me know how I can help ! 

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