Tips on Investigating New Cities for Rental Properties
Hey everyone,
I'm looking to relocate to a new city for a change of pace, but I am also looking to invest in smaller multifamily properties (1-4 units) in the same area. The primary cities that I'm considering right now are Jacksonville, Charlotte, or the Raleigh/Durham area. I can dig into these cities all day long on the internet, but because I'm going to be living there as well (not just out of state investing) I plan on visiting these cities before making a final choice. Outside of meeting with an "investor friendly" agent while in each city, what other in-person tasks should I try to accomplish to gain a better understanding of the potential upside to the rental markets.
I have renovated and rented a multifamily property before so I'm not completely new to the game, but analyzing out of state farm areas is a relatively new path that I have yet to explore. Additionally - if you have any referrals for quality agents in these areas, i'm all ears.
Any and all help is appreciated.
Thanks!