which state to invest

6 Replies

Hi All,

The market that I live in is very HOT, $500K is the starting point.

I'm looking for states, which have around $100K single house, and generate around $1000 rental income monthly.

If anyone has good lead, any advise will be appreciated. 


Thank you!

Michael

Hi Michael - Metro Detroit, and other midwest cities for that matter, is a good place to find something like that. We do a lot of business here with out of town clients in those ring areas surrounding Detroit as well for those who are not comfortable investing in the actual city of Detroit. There is just so much opportunity in SFR and MF with a low barrier of entry here. For example, just did a walk through for an out of town client yesterday in a completely turnkey property listed at 99.9k that will rent easily for $1000+. Just the perks of living in the middle of the country rather than some of the cities on the coasts!

@Michael Ch

Columbus, Ohio. It's the only metro city in Ohio with a growing population and the continued development and job growth is fantastic. You'll find strong cash flow, lower prices, and higher appreciation here.

You can find single/multi families in B-/C/C+ neighborhoods that are right around the 1% rule.

If you need any insight on the local market here happy to connect!

Originally posted by @Michael Ch :

Hi All,

The market that I live in is very HOT, $500K is the starting point.

I'm looking for states, which have around $100K single house, and generate around $1000 rental income monthly.

If anyone has good lead, any advise will be appreciated. 


Thank you!

Michael

Columbus, Ohio might be work a look 

What areas around Detroit are you seeing those type of returns if you don’t mind me
asking? 


Originally posted by @Michael Helfant :

Hi Michael - Metro Detroit, and other midwest cities for that matter, is a good place to find something like that. We do a lot of business here with out of town clients in those ring areas surrounding Detroit as well for those who are not comfortable investing in the actual city of Detroit. There is just so much opportunity in SFR and MF with a low barrier of entry here. For example, just did a walk through for an out of town client yesterday in a completely turnkey property listed at 99.9k that will rent easily for $1000+. Just the perks of living in the middle of the country rather than some of the cities on the coasts!

 

Hi @Michael Ch ,

The Florida (Tampa Bay) area is a great market right now. We currently have inventory for 1.2 months (regularly 5-6 months) and investors are racing to get the deals. Even so, we still manage to sell $100K investment properties with equity and 15-18% cap rate. Flips are selling for 73-79% of the ARV minus repairs.