Rental Properties out of state
Hi everyone!
Just interested in hearing from you all what states, cities, and/or neighborhoods you all are investing in for rental properties and why? I will be investing outside of my state of California and would like to hear of great cities and neighborhoods to look at to choose where I should start investing.
Thank you all!
Hi @MarieChele Porter. As Denver's biggest fan, I'd have to second @Matt W.'s mention of the Mile High City. As with a lot of markets, it's knowing what style of home to buy in what area. If you're looking for great cash flow, this might not be your market, but in terms of long-term potential appreciation, I love Denver. It's becoming one of the go-to destinations for rich millennials, and it's home prices -- while admittedly higher than Denverites would like them -- are still relatively cheap compared to many of the other "cool" cities people want to live in. Those are my two cents.
Good luck with everything!
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Chicago is littered with Multi-units in pretty much every neighborhood. It's a great city for multifamily in my biased opinion.
#Mark I agree with you
@MarieChele Porter I'm from the Bay Area also, so I know the challenges you are having and why you are looking out of state. I like the Indianapolis and Kansas City markets for cash flow, however, like most markets, there are good areas and bad areas and you have to know what are the best neighborhoods. We've been selling turn key properties there for several years and know the areas well. I'd be happy to share my insight if you'd like. I wrote a report on how to invest out of state. You can find it on my website if you're interested. You might also want to check out my podcasts there also.
hi @MarieChele Porter im in the Houston, Tx Market. I am working my way up the wholesale ladder. if you need a boots on the ground to look at properties or for follow up with local contractors and realtors i can assist with any of those items. PM if youre interested, thanks!
I think in any of these markets - what you need first is a wholesaler with inventory that understands what you need, as well as, a wholesaler that wants to do more business with you in the future.
I know some good ones in Indianapolis, also have a few in Cincinnati area.
Some of these markets are good markets, but it can be street by street and block by block that makes the difference for you.
Indianapolis is good for cash flow but you need an honest property manager as
an essential part of your team. I know 2 of them if you decide to invest here.
@Andy Rumple would you mind sending me the 2 PM contacts that you have? I'd also like to chat with you about them as well if you don't mind. We can do that via email.
@Andy Rumple I am also looking for recommendations for honest property managers and general contractors in Indy. Would you mind sharing your contacts with me as well? Many thanks!