What OOS Markets are you investing in 2019?
Where are you investing OOS in 2019? There have been a lot of podcasts/articles/opinions about the best markets to be buying this year. A lot of common themes keep appearing such as Florida, specifically Orlando and Jacksonville being hot markets with high pop. increase?
Also, Indianapolis, Atlanta, Memphis, Nashville, Kansas City?
I am looking to branch out of my hometown and looking to buy my first OOS property in the spring.
Any thoughts?
It really depends on what your objectives are. Personally, I think Indianapolis and Kansas City are two of the best cash flow markets. Both have a good combination of cash flow and economic/demographic trends combined with affordability. Like with any market though, buying in the right area and class of property are a must. I'd be happy to share my insights on both if you want to reach out.
@Mike D'Arrigo that would be great, I'll send you a request. I'm primarily looking for turnkey property's that I can buy and hold for 5-7 years before selling them to move onto multi family.
Many investors like myself have ventured out to parts of Ohio like Cincinnati and Dayton.
I have owned in Indianapolis for the last 5 years and have seen pretty good returns. I can vouch for @Mike D'Arrigo as a reputable source. I bought through him and he has also been able to help me sell some of them as well, which is important if you are looking at a 5-7 year hold.
Thanks Anish. I appreciate the vote of confidence.
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Originally posted by @Carter Thomas:
Where are you investing OOS in 2019? There have been a lot of podcasts/articles/opinions about the best markets to be buying this year. A lot of common themes keep appearing such as Florida, specifically Orlando and Jacksonville being hot markets with high pop. increase?
Also, Indianapolis, Atlanta, Memphis, Nashville, Kansas City?
I am looking to branch out of my hometown and looking to buy my first OOS property in the spring.
Any thoughts?
Surprise Cleveland didn't make it onto your list. Most national publications have Cleveland as a top 3 rental investment market. What is your reason for wanting to exit your home market?
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When you say “pop” are you thinking in terms of appreciation? Not to burst your bubble but that may be a little dangerous to speculate on right now in most markets.
Now if you’re interested in cash flow then you should certainly consider the Midwest ..,.. and as @James Wise is alluring to....include Cleveland....... I started buying rentals out there in 2017 and haven’t looked back, my goal was strictly really good cash flow on properties in “C” areas. Not worried about the ups and downs of appreciation because I deal with that with my properties here in the SF Bay Area.
Good luck.
@Brian Garlington When I say "pop." I am referring to population increases. Ive noticed that appreciation is harder with a hot market right now so I am looking for places with higher cashflow. I have looked at Cleveland quite a bit and have heard it is a great place for cash flow but I have also read reports that the population has been declining over the last few years so that has given me mixed feelings. What are your thoughts?
@James Wise My main reason for exiting my market is that it is getting far too expensive. I live in a suburb of Portland OR and a 1500 sq. ft. townhouse is around 350k right now. I have a few rentals in the area and have made a decent amount with appreciation but cash flow isnt great. I am looking to expand farther out and move towards duplexes and small multifamily.
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Originally posted by @Carter Thomas:
@Brian Garlington When I say "pop." I am referring to population increases. Ive noticed that appreciation is harder with a hot market right now so I am looking for places with higher cashflow. I have looked at Cleveland quite a bit and have heard it is a great place for cash flow but I have also read reports that the population has been declining over the last few years so that has given me mixed feelings. What are your thoughts?
@James Wise My main reason for exiting my market is that it is getting far too expensive. I live in a suburb of Portland OR and a 1500 sq. ft. townhouse is around 350k right now. I have a few rentals in the area and have made a decent amount with appreciation but cash flow isnt great. I am looking to expand farther out and move towards duplexes and small multifamily.
Makes sense.
Hi @Carter Thomas the Kelso/Longview market is a nice location with good employment and jobs. In the Portland/Vancouver market it is very difficult to find MF properties under $300,000 but I do know there are a couple duplexes under $200,000 and the rents for a 2/1 are around $900 in Kelso...