Best cash flow markets?
Although my account is new here on bigger pockets, I am not new to the forums. I have used bigger pockets to find answers for a long time... and I religiously listen to the bigger pockets podcast.
I am not really a "newbie" investor, but I am by no means a pro. I have been an investor for about 5 years and I own several (out-of-state) multifamily units in Ogden, Utah and a single family home locally here in Sacramento, California. My investments so far have not necessarily been top performers worth bragging about, but I would still consider them somewhat successful.
I would like to start exploring other markets. I am looking for areas where I can buy properties with cash ($30,000 to $60,000 price range) that are known for high cash flow, but at the same time have more quality tenants.
For example, my SFR in Sacramento is in a solid middle class neighborhood. All of my previous tenants for this property have all been really good people who always paid their rent on time and never beat up the house. No late payments, no evictions... nothing. I have never had any issues in the 5 years I have owned the house... it's been true "mailbox money" as they say. The problem is that property values here are just too high now and even in the bad areas you can't even find anything that really would cash flow.... so buying more homes in this area is out of the question at this point.
In my Ogden units, I cannot say the same. Though the cash flow is MUCH higher than what I see in Sacramento, I do also have much higher tenant turnover and the quality of tenants is a lot lower.
Are there any investors out there that are renting properties where you are getting these really good people / hard working type tenants in markets that are also known for high cash flow? I hear a lot about turnkey SFRs in places like Indianapolis, Milwaukee, Memphis, Dayton etc.... I want to learn more about investments in the $30,000 to $60,000 range that are rent ready in decent middle class neighborhoods. Which cities (and which specific neighborhoods) are seeing these types of investment properties?