I'm ready to get started in out of state investment properties. I'm currently interested in the Fort Worth, Texas area.
Population growth, safety, jobs, and homes in the $100K - $150K neighborhoods are ideal. Cash flow is more important to me, but if homes appreciate that would be a great addition as well.
I've been using city-data, looking up local city websites to see what's going on, neighborhood.com, "walking" through google maps, but since I'm not from there it gets challenging differentiating the neighborhoods. Because like every other place, there are areas that change immediately.
Aside from the websites I've listed, what are other methods that could help me decide? Talking to a realtor is my next step, but any insight from those who have invested out of state would be greatly appreciated!
I agree with Bruce, most starter homes in B areas are in the $175-$225 range, especially in the suburbs. I did a fixer-upper as my primary home because of increasing costs in the area. Please be mindful of the real estate taxes as well. Taxes on a $200k home run about $5k/ year. I live in the area and am looking to invest out of state in more affordable cities.
I like Tarrant, but you will have rougher properties with tenant turnover if you want good cashflow at those numbers. Were you paying cash or debt? That will greatly impact cashflow...