Tips on Investigating New Cities for Rental Properties

3 Replies

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!

I would try to do some of the leg work up front. See if you can get some calls going to local brokers to get a better understanding of the market and the properties you will encounter. This will help you build the relationships. That way once you are in the city you spend less time searching for properties and actually looking at them.

That is a good point. Making the connections early would at least help me gain a better understanding of what areas in the city I’d be interested in. How investor/landlord friendly is florida? Have you ever had experience with evictions?

Suggest using Market Place for referrals

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