Best markets to create passive income?
Curious what the best markets are right now for cash flow/creating passive income. I'm leaning towards multifamily rather than single family homes. I live, work, and own real estate in the Bay Area however I'm starting to look out of state. My goal is to generate an additional 20k per month of passive income over the next 3.5 years. Any suggestions you have would be great!
Most Popular Reply
Hey Bret,
This question comes up a lot as investors are looking for the elusive cash flow in the current market.
There are thousands are areas with great cash flowing rentals. However, it comes down to where you have a competitive advantage. If you don't have a team or any insight into the market then you're just another number on a wholesalers spread sheet. Sure, you'll get deals sent to you every week but you won't know the difference between the great investments and the mediocre ones.
I invest in the Greater Houston market because I live here and have a great team. I also invest in Athens, OH where my Dad's a local contractor.
The secret is to invest where you have (or can create) a competitive advantage.
Best of luck!