I want to start rental investment, but i am confused between cities to start in , and i am not attached to any as for my job i am moving from one to another, so i just need a long term investment and to have it as a retirement destination.
If you have general advise or any information about those cities or even other ones, that will be highly appreciated.
My brother is no in Allentown, PA while i live currently in Schaumburg ,IL , i like in Allentown that you can buy a house for 50k and rent it for $950 and pay average of $1700 tax property, it's a blue collar city which you can find some good tenants if you do your homework but there is a lack in the available listed good shape properties, i was also thinking about Chicago,IL but not sure about if it has better deals ? can i make higher ROI than the ones i stated above ?
So for me it's Allentown, PA vs Chicago IL but yet am open to any suggestions.
You can find houses for $50K in Allentown, but they're going to need work. I don't know anything about the Chicago market, so I can't compare the two. But if you have more questions about Allentown, let me know.
@Mark Gallagher i am targeting the city center of Allentown and i have seen some for that price with minimal work unless i am missing something ?
The main problem that listed good shaped ones with reasonable price who can get me the ROI i talked about are very limited as it seems the market is getting hot these days there, that's why i was checking other cities too.
There are 36 houses available in 18102 $50K or less and I would say about 4 of them don't need any work. The rest need at least a few thousand, paint and carpet, before renting.