New investors looking for market recommendations

[Sidthi Sanjanwala]

Hello! We are an OOS investor based in CA looking to research and network with like minded investors on areas that we are interested in such as Plano, TX, Columbus, OH, Phoenix, AZ, Detroit, MI, etc.  Since we're just starting out, we're looking for higher rated markets to get our feet wet with less risk.  Primary goal is to cash flow with little to no renovations for now.  Would love to here people's thoughts on these markets or any other suggestions.  Many thanks! 

[Joe Hammel]

Metro Detroit has a great balance Price/Rent/Location.

I have all my rentals here and will keep buying because they perform very well.

The “trick” to Metro Detroit is the ring city suburbs. Buy the $70-$120k properties that border Detroit. Rents are high, we have many clients getting $1300/month for routine 3/1 houses. Can range from $1100-$1600. 

Cash flow $200-$400/door and 10%++ ROI
Have countless examples of past and current clients getting these. The biggest testament is that they continue to buy more and more.

I think a lot of people that don’t like the area:

A. Don’t and never had rentals here

B. Failed because they tried to do the $5k-$20k houses in areas of Detroit thinking they would be easy 3% deals. 

Since these 2 reasons have slightly decreased demand - it makes the area even better.