Which city would be the best investment for 2024

Question

Which city would be the best investment for 2024 among Little Rock, AR, Atlanta, GA, and Nashville, TN for a buy-and-hold strategy aimed at long-term appreciation? Looking for a single family homes or multi-family duplex. also which areas would you invest if not the ones I mentioned above. landlord friendly states is a must for me.

Luka Milicevic · Answer

@Adam Sha

The only person that can properly answer this question is someone that analyses markets on a national level or someone that invests in all 3 of these markets.

The answers you're going to get from everyone on this forum that falls outside of the above is going to simply tell you their market is the best market.

In my case, I fall into the latter - I only invest locally therefore the Nashville market is the best for two reasons.

1 - I sell real estate in Nashville and I have an incentive for you to choose this market.

2- I know absolutely nothing about the other markets mentioned in your post.

Outside of that.....

There are certain areas in the surrounding counties of greater Nashville that are very much worth looking into. There are areas in the path of progress right now that are still relatively affordable and have decent rent to value ratios and are poised for long term appreciation.

The stadium deal downtown is also going to transform the city in ways us locals can't yet comprehend.

If you do want to discuss the market more, please feel free to reach out and I can talk to you about it as much as you'd like.

Sheryl Sitman · Answer

The absolute best city or town to invest in ( do not get stuck on the notion of investing in major metros or you will miss out on many interesting opportunities) is . . . the one where you have a team you can trust, where you are able to learn the market and its nuances and get to a point where you are comfortable doing business there because you know how things work and what the market requires for success. Focusing on the "landlord friendly" state concept is wrong - clearly many successful investors continue to invest in what can be labeled as non landlord friendly states.  There are challenges everywhere for different reasons -- weather, building codes, tenant culture, competitive market, high cost of labor.  Look at your investment decisions holistically.  It's as easy to fail or to run into problems in the "friendly" states as it is in the "unfriendly" states. And possible to succeed EVERYWHERE. I do not know the markets you mention, but wonder how numbers could work today in a very mature market like Nashville with a current seemingly high vacancy rate due to lots of development in recent years. Good luck!