Best cities for long distance real estate?

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Best cities for long distance real estate?

Rachel Cutler
New to Real Estate · New York City NY, United States · Member since 2020 · 18 posts · 15 votes

I am reading David's Long Distance real estate book, watching webinars, listening to podcasts, etc. and am open to investing ANYWHERE with about $20K cash. I want to start analyzing properties, but I don't know where to start looking.  So my question is how do I pare down the search...there are too many options!  What steps should I be following next?

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Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
6y

With about $20k you can afford to buy a $70,000 property to account for the down payment and closing cost.  There are several markets where you can find good rentals: Memphis, Kansas City, Cleveland, Birmingham, and others.

If you are looking for turnkey you might research the operators in those markets. If you are looking to hire a Realtor, get with one of the BP Premium listed realtors for those markets. BP has a list of them as a realtor with knowledge of the rental market will be important.

Good luck! 

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  • Rachel Cutler
    OP
    New to Real Estate · New York City NY, United States · Member since 2020 · 18 posts · 15 votes
    6y

    Cleveland would be great.  Thank you, @Jarrod Kohl

    1Reply
  • Chris Purcell
    Investor · Philadelphia, PA · Member since 2010 · 739 posts · 372 votes
    6y
    Originally posted by @Rachel Cutler:

    I am reading David's Long Distance real estate book, watching webinars, listening to podcasts, etc. and am open to investing ANYWHERE with about $20K cash. I want to start analyzing properties, but I don't know where to start looking.  So my question is how do I pare down the search...there are too many options!  What steps should I be following next?

     Philly.  Accessible to you

    0Reply
  • Christopher B.
    Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    6y
    2Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    6y
    Originally posted by @Rachel Cutler:

    I am reading David's Long Distance real estate book, watching webinars, listening to podcasts, etc. and am open to investing ANYWHERE with about $20K cash. I want to start analyzing properties, but I don't know where to start looking.  So my question is how do I pare down the search...there are too many options!  What steps should I be following next?

    Give Columbus, OH a look you could purchase something for 70k with that down and cash flow . 

    [email protected]786-494-6766
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  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    6y
    Originally posted by @Rachel Cutler:

    Thanks @Brian Tunnell I will most likely be in touch.

    This is good stuff to consider @Jacob Repreza

    Good question @Christopher B.  A passive investment would work for me, AND I still want to have the knowledge base to make my best-educated investment.  I'm also not sure an opportunity like that would come along, so I am focusing on finding the right thing from afar.

    @Bonnie Low I really appreciate your post and I copy and pasted it into my notes to focus on.  Thank you!

    To all the Ohio/Columbus people...I am interested in digging a bit deeper into that specific market, if you have suggestions.

     What questions do you have about Columbus?

    [email protected]786-494-6766
    Section 8 Launch52 Reviews
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  • Brian Hosier
    Investor · Port Coquitlam, BC · Member since 2013 · 203 posts · 119 votes
    6y

    Hi @Rachel Cutler, there is some great cash flow opportunities in Cleveland if you buy in the right areas. I work with a team that can offer a 15% targeted cash-on-cash return and you can start with just $25k down. Not sure if you're eligible but msg me if you would like some info. Good luck with your RE investment journey.

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