Best Markets for Lower Priced Rentals ($60-$100k)

21 Replies

I am looking for rentals between $60-$100k and I was wondering what markets the community prefers for rentals in this price range. 

Are you looking to emphasize cash flow, or appreciation?  

There are plenty of places all over the country that offer SFHs or small MFHs for that price, or even less.  As a very broad term, the midwest is a good place to start your search, some places in the south as well.

You want to look for solid blue collar working class neighborhoods for this price range.  You can get great deals in the middle of a war zone, but you'll have never ending problems trying to collect rent and damages to the property caused by the tenant, etc...

@Zach Evanish  there are many many markets you can achieve this.

the team and the Property manager will be your key componants to your success at that dollar price points  in most cases... YOu may want to look at turn key companies around the country  there is a lot of them you can talk with and search the internet.

Consider Indianapolis. Feel free to contact me if you have any questions.

Agreed with @Tyler Brown what are your goals when it comes to investing @Zach Evanish . As he stated the midwest is great for those price points while achieving good cash flow  

I've been investing in Indy for a bit now and am having success focusing on cash flow. If you have any questions I'm happy to chat during the week. 

Baltimore Md for sure. I have a property that rents for $1000  paid 19-20k after repairs. Next year is year 3 and i will have recouped my initial investment. Feel free to contact me if you have any questions.

Zach Evanish I invest in Birmingham and Indianapolis with numbers $50-70k for both b and c class properties. A range of $60-100k puts a lot of markets in that category.

@Zach Adams $60-$100K is actually a pretty broad price range. You can find lots of markets that will fall in to that range. There are a lot of cheap markets but it doesn't necessarily make them good investment markets. You also want a good, vibrant economy which starts to narrow some of these markets down. Personally, I like Indianapolis and Kansas City but their are other good ones too. I wrote a report on how to evaluate and choose a market that I'm happy to share with you if you want.

@Mike D'Arrigo What neighborhood/s do you focus on predominantly in Indy? I am also wondering, what does the typical tenant profile look like in terms of credit score, income, and criminal history? Thanks!

@Account Closed Everyone had their own preferences and criteria but since the vast majority of our investors are out of state, we stay out of the low end, inner city properties that can be a challenge to manage. We deal with A-C class properties so the area varies depending on the class but generally in the suburbs.

@Mike D'Arrigo Awesome, thanks so much for the response! I do not own any properties in Indy yet, was just wondering what neighborhoods you focus on predominantly. Some folks are very successful investing in the inner city - I am still trying to get acquainted with all the neighborhoods. Hence why I was wondering what areas you like...

This is almost all my properties and I'm in Jackson, MS and Memphis, TN.

Hi, @Zach Adams .

I totally agree with @Justin B. .

We have a lot familiarity with those markets and would be happy to share our experience with you.

All the best,

Originally posted by @Mike D'Arrigo :

@Zach Adams  . I wrote a report on how to evaluate and choose a market that I'm happy to share with you if you want.

 Hi Mike - I would be interested in reading your report. Could you post a link or PM me. Thanks!

Originally posted by @Aaron Cullen :
Originally posted by @Mike D'Arrigo:

@Zach Adams  . I wrote a report on how to evaluate and choose a market that I'm happy to share with you if you want.

 Hi Mike - I would be interested in reading your report. Could you post a link or PM me. Thanks!

 I would also be interested in the report

Midwestern cities, Indy, KC, Ohio. I can see you're in SF so that's why you're looking elsewhere. You really do need to specialize in a market where you can or do have boots on the ground. If you have a friend or family member who can kind of be your eyes and ears on the ground somewhere that would help a lot here.

Originally posted by @Zach Evanish :

I am looking for rentals between $60-$100k and I was wondering what markets the community prefers for rentals in this price range. 

 I have had awesome success in Indy and am dipping into the KC market now.  Good for cash flow, bad for appreciation but im in it for the cash flow.  

PM me if you want more details or recommendations.

Originally posted by @Zach Evanish :

I am looking for rentals between $60-$100k and I was wondering what markets the community prefers for rentals in this price range. 

 You may be forced to look outside of California or at least, certain parts of California.

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