San Francisco, CA · Member since 2017 · 10 posts · 3 votes
Just starting out. Planning on taking the next few months to soak up as much knowledge as I can before diving in. Looking for recommendations on markets that can cash-flow and aren't too sketchy so I can start learning how to run numbers and examine an area (just in view mode right now, but might as well be in an area that I can dive into when ready). Currently live in the SF bay area, so there's really not much local that works. Willing to go out of state. Looking for SFHs in the range of $100k to $250k.
Investor · Los Altos, CA · Member since 2014 · 942 posts · 1k+ votes
9y
@Bruce Mac welcome to BP. You should try and make out to the big summit that is happening next month hosted by @J. Martin in Oakland. I am sure you will be able to meet people who invest locally and out of state and get a ton of good info from many sources in one weekend.
Investor · Los Altos, CA · Member since 2014 · 942 posts · 1k+ votes
9y
@Bruce Mac welcome to BP. You should try and make out to the big summit that is happening next month hosted by @J. Martin in Oakland. I am sure you will be able to meet people who invest locally and out of state and get a ton of good info from many sources in one weekend.
Welcome to BP and getting started :) Thanks for the shout out @Arlen Chou. Go meet the local investors at @Katie P.'s meetup in the East Bay, and come meet everyone at the Summit in Oct if you can make it. Kathy Fettke will be talking about the states that are most up and coming, and lots of other out of state stuff. Especially on Saturday. Networking is what freed me from my 9-5 job.. so go out and meet some folks!
@Ryder Meehan also has a SF meetup focused on out of state investing.
There are more in the > Community > Networking events section of the site too.
Investor · Santa Clara, CA · Member since 2014 · 138 posts · 54 votes
9y
Bruce,
I think you are absolutely right with your assessment of Bay Area market.
At the current price levels, it will be very difficult to find anything that makes sense. Besides the price to rent ratios the laws are typically tenants friendly in CA which makes it even more difficult...
I've been investing in TX for many years and I think it is still very good market to invest (Dallas, San Antonio).
If you want to learn more about out of state investing feel free to check out this meet up group -
Some of my favorite markets are those with job and population growth mixed with affordability and city revitalization. Kansas City, Cleveland, Pittsburgh are great cash flow markets with possible appreciation due to all the growth. I like Florida too because so many retirees are headed that way and many are renting.
Real Estate Agent · Pittsburgh, PA · Member since 2014 · 821 posts · 255 votes
8y
@Bruce Mac I agree with @Kathy Fettke on good markets to invest into have affordability and city revitalization. And a prime example is Pittsburgh, coming from a Steel town to a tech town is a major transformation. Many Investors, local and remote, are seeing the affordability to buy into Pittsburgh with it's great returns on their investments. That combined with a strong positive cash flow potential and an economical growth rate that rivals other larger metropolitan cities is a huge plus. New investments by Google, Apple, Facebook and Autodesk is a true testament to the growing infrastructure here. As of recent, Pittsburgh is in the top #5 pick for the 2nd HQ of Amazon. Reach out to people in any city you are considering for advice on buying into, and possibly managing remotely. Find out from them what areas of the city are more inclined to generate positive income. Whatever market you choose, look for those that know that market well and reach out to them. I wish you much success....Gary
Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
8y
@Bruce Mac do your market research. As mentioned. Where has urban growth? A diverse and growing economy? A city that is investing in its infrastructure? Cross-reference that with places that have laws that are friendly to landlords. Then pick a market. Just one. Learn as much as you can about that market and then proceed.
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
8y
@Bruce Mac if you are looking to buy out of state why not give Pittsburgh a try. Its a wonderful city. i have lived here all my life born and raised. The Pittsburgh market is very affordable. Good Luck in your search.
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
8y
@Bruce Mac I also agree with @Gary Swank about the high tech industry moving into Pittsburgh. Also we have a strong medical industry. Good luck in your search. hope to see you soon here in Pittsburgh.
Appraiser · Easton, CT · Member since 2015 · 94 posts · 98 votes
8y
There are many cities in the South and Midwest that would meet your criteria. Just do your research and look for cities with population growth and job growth. You'll find tons of info on BP as well. Good luck!