Finding good value, the 2% rule, choosing a city
Hi everyone,
So here's my question. I'm new to real estate but I'm coming to the table with experience in stock market value investing. I'm very attracted to deep value situations, which to me means gross cash flow generation above the 2% mark (to give a general metric). I also prefer to target the lower end of the middle class type neighborhoods, to avoid bad neighborhood headaches. From what I've been reading, one city which fits these criteria is Milwaukee. I would love to hear if anyone knows of similar areas/cities that have similar values, especially within a 2-3 hour drive of New Jersey. I'm interested in targeting a city, spending half a year to a year learning the neighborhoods and economic patterns, then starting to invest there. I just want to know ahead of time that the city has an abundance of values that fit my criteria (as opposed to the occasional deal), so that's why I'm posting the question.
Thanks for any and all insights and responses,
Zev Bannett