New hot places to buy

Rental Property Investor · Nashville, TN · Member since 2019 · 15 posts · 8 votes

Where would you say are the hot places to buy rental property right now? I’ve heard a lot about Louisville Kentucky and Indianapolis.

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Jonathan GreeneBusiness Member

Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes

My only comment would be that a place that is hot right now and people know about it means you are too late. I would try to find the town next to the town that is hot right now, the one that hasn't peaked because that is usually next in line after the hot and now town gets full. You can still do well on a hot town, but if you find the next soon-to-be hot town by tracking the hot ones, you will make more money.

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Jonathan R McLaughlin
Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
6y
@Nawzad Babiry keep it really simple...what areas look like they have major change coming? Companies moving in, public transit, younger population etc. Could be anything.
Good school systems near or moderately near urban hubs with walkable downtowns are a great bet.
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Ryan Proffit
Saint Joseph, MO · Member since 2018 · 401 posts · 244 votes
6y
@Jackie Comitino when I was going to move out of state, I would contact each cities chamber of commerce. They would all send me a packet of information about their cities. It was very informative. I learned this trick from the book “What Color is Your Parachute”
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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
6y
@Anthony Rosa Good point, I should have clarified. I don't buy into the same Starbucks or Whole Foods principle in a cityscape because I think they run numbers based on foot traffic in cities and may not consider what you said. But, they are still usually correct with the data pointing them there. Personally, I use the Starbucks monitor for towns with predominantly traditional single-family house neighborhoods and driving as the main mode of transportation.
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Jackie Comitino
Glen Cove, NY · Member since 2019 · 41 posts · 14 votes
6y
@Ryan Proffit GREAT tip! thank you
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Charlotte Dunford
Investor · Johns Creek, GA · Member since 2017 · 463 posts · 488 votes
6y
@Nawzad Babiry avoid hot places. Period.
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Account Closed
Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
6y
79 degrees in Miami today, that is pretty hot for almost January
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Ricardo S.
Flipper/Rehabber · Atlanta, GA · Member since 2014 · 166 posts · 88 votes
6y
Actually the hottest places to buy right now are the Caribbean that are located on the coasts close to the beach. The USD goes a long way in these countries and tourism as well as international investments in their infrastructure is on the rise. A good example is Jamaica.
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Rob Bergeron
Real Estate Agent · Louisville, KY · Member since 2017 · 1k+ posts · 1k+ votes
6y
I like our entire region! Louisville, Southern Indiana, Dayton, Cincinnati, Lexington, and Indianapolis. I like C area multifamily properties in Louisville. Closing on a 5plex this week that generates $4,000 a month, mortgage is $230k.
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Craig Jennings
Investor · Louisville, KY · Member since 2013 · 38 posts · 15 votes
6y
@Nawzad Babiry Louisville is a solid rental market. Yes the hottest parts of town have pretty much peak however that doesn't mean there aren't opportunities still to be had.
@Jonathan Greene Like all markets, Louisville has peaked in several areas. Germantown, Butchertown, even Shelby Park to a degree are saturated at this point. However there are still solid, consistent investments. If you're looking for home runs, those are few and far between here now. If you want stable consistent cash flow with acceptable appreciation, that can be found still. Just have to know where to look.
I'm a life long Louisvillian and investor. There is still plenty of opportunity here to develop a solid portfolio with strong cash flow. You have to setup the right model which is key. If anyone wants to explore the Louisville market more, feel free to reach out.
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Darius Ogloza
Investor · Marin County California · Member since 2018 · 1k+ posts · 2k+ votes
6y
Wherever you find a combination of high rents, lots of demand, relatively low operating costs, tight supply and access to reasonable financing. I have found that many college towns fit this model.
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