If you were to buy and hold or implement the BRRRR strategy where would you go? Why would you go there?
@Sean Carroll , you are going to get a thousand different answers to this, and any one of them is just as much correct, as it is just as much wrong. There are so many benefits and drawbacks to investing in your local market and just as many benefits and drawbacks to investing in a ton of different places in the US.
I think to help limit the context of this conversation, you may want to quantify some of the variables of this question, to help aim answers.
1. How much money do you have to invest?
2. What are your expected gains?
3. Do you have experience with rehabbing real estate?
4. What is your risk tolerance for investing?
5. What is your credit like? (Are you interested in financing? If so, up to what number?)
6. What is the long term goal of RE investing for you (what is the "why"?)
7. How far will you travel for a good deal? Or will you travel (are you looking for people to help you rehab, market and PM your property? - a la "turnkey"?)?
This is just a start, but I think with a bit more information, you can avoid the usual answers here like, KC, Indy, Memphis, Austin, Cleveland, etc, etc (these are ALL fine markets, but I would assert that investing in any of those cities is NOT always the best choice for the out-of-state investor, based on answers to the questions above, as there are success stories on REI in almost every town in America).
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