Potential locations to invest
Hello
I'm looking at locations to buy single family homes. I was wondering if any of these areas are good places to consider for passive long term income. I'm not a native to any of these areas so any and all feedback on them is much appreciated.
Ideally, I'm trying to find neighborhoods with younger families with B/ B+ properties. What neighborhoods in each area below have not hit the appreciation stage and would still be good investments?
Thanks!
Chicago Southside
Cincinnati
Houston
Dallas
Indianapolis
Kansas City
Jacksonville, FL
Atlanta
Portland, OR
Vancouver, BC
Are you familiar with any of those markets or have future plans to be in their vicinity with some regularity?
Originally posted by @Karen L.:
Hello
I'm looking at locations to buy single family homes. I was wondering if any of these areas are good places to consider for passive long term income. I'm not a native to any of these areas so any and all feedback on them is much appreciated.
Ideally, I'm trying to find neighborhoods with younger families with B/ B+ properties. What neighborhoods in each area below have not hit the appreciation stage and would still be good investments?
Thanks!
Chicago Southside
Cincinnati
Houston
Dallas
Indianapolis
Kansas City
Jacksonville, FL
Atlanta
Portland, OR
Vancouver, BC
Karen Just curious why so many markets.
When I was in turn key sales I would tell folks to pick out three markets. Flying into each you have a big list their.
I broke down a post a while back on most of the turn key market in the USA and why each market was good or bad or where investors were buying.
Pm if you would like to read that one
Alex
Go for Indianapolis
@Karen L. I would suggest these these 4 markets
Chicago Southside - for small 2-4 flats (also consider the south suburbs for SFR, and the Indiana suburbs of Chicagoland)
Indianapolis - SFR only
Kansas City - best for SFR
Jacksonville, FL - SFR
@Karen L.. But I might be biased for obvious reasons. Lol
I'm learning as I go. I'm interested in them because they see to be good cash flow investments. That being said, I'm interested in feedback about Dallas too. Maybe even Reno NV. Are those areas currently too expensive now for cash flow on SFR and appreciating instead?
@Karen L. those listed by other members above tend to be the current recommendations for turnkey/cashflowing investment markets.
Being in Dallas, it appears that the market has gotten overheated some time ago. The consensus appears to be: there's still deals available if you work hard at finding them. Anything out on the public market is sure to get multiple bids and close to asking. Many wanna-be investors (not applying the right "maths" to the deals and overbidding) and plenty of out of state money has flooded the area over the years ...*cough California cough* :P
If you want anything that makes sense from an investment standpoint, you can scrap Vancouver, BC. The only thing that city is currently good for is all the shorting against the housing market up there. Forget cashflow (or rational appreciation), that city has long since passed sanity or anything relatively close to market fundamentals for you to want to touch real estate 'investments' with a 100-foot pole.
If you can't tell, I could go on forever about the current status of the Canadian real estate market!
I believe Marcus & Millichap (sp?) has free analyses for major metro markets available online. They're worth a read to better understand each market from a 30,000 ft view.
Vancouver is very expensive to invest in, and difficult to find any cashflow properties with decent cap rates unless you go 1.5-2 hours east towards Abbotsford/Mission. Or invest in the island or the interior. I'm new to this and I myself am looking for buy/hold properties at the moment as well.