-- Out of State investing -- Locations

Out of State Investing
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-- Out of State investing -- Locations

Anthony DiSanzoBusiness Member
Real Estate Broker · Monmouth County / Ocean County / Middlesex County · Member since 2023 · 28 posts · 14 votes

Does anyone have an suggestion for locations to purchase homes/condo that are inexpensive and have strong rental potential. I currently live in NJ, but before I make another purchase here, I wanted to see if there are any location that have buy and hold opportunities. (currently looking in St. Louis Missouri & Texas where I have some family). 

-- Appreciate any and all input 

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Allie McAlister
Memphis, TN · Member since 2024 · 180 posts · 223 votes
1y

@Anthony DiSanzo

If you're looking for low entry point properties that will stay in demand with a strong tenant base, I'd advise you take a look into the Memphis market. 

Amazon and Nike both have large plants in the northwestern part of the city and Memphis is also home to FedEx world headquarters. In the next year, Blue Oval is about to provide 6,000 jobs from the manufacturer alone, and these are just a few of the companies feeding into the surplus of job opportunities ( and therefore tenants )  in the city. 

If you have questions, I'm happy to give you a better picture into what the rental market is currently looking like. 

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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Anthony DiSanzo

    why not stay within driving distance to be hands-on?  i like the family connection but you really need a strong network to buy out of state.

    0Reply
  • Greg ParkerBusiness Member
    Realtor, Contractor, Property Manager · Montgomery AL and Kowaliga, AL · Member since 2017 · 663 posts · 536 votes
    1y

    2. Alabama

    Alabama residents enjoy a low cost of living and a thriving economy. The state’s housing is also ranked as the fourth most affordable in the country.

    Alabama currently has the second-lowest average property tax rate in the country at 0.4%, which helps investors keep more of the money they earn. The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits. They do, however, have up to 60 days to return a security deposit after a tenant moves out.

    If an eviction is necessary for nonpayment, landlords are required to send a seven-day written notice of the payment due. The landlord can then proceed with the eviction process in court if the tenant does not remit payment. Landlords can also evict tenants for illegal activity with a seven-day notice. If a landlord needs to enter a property for an inspection or repair, a two-day notice is required.

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  • Anthony DiSanzoBusiness Member
    OP
    Real Estate Broker · Monmouth County / Ocean County / Middlesex County · Member since 2023 · 28 posts · 14 votes
    1y

    Thank you Greg for the input. I really appreciate it! 

    0Reply
  • Jared Smith
    Real Estate Agent · Lakeland, TN · Member since 2015 · 214 posts · 105 votes
    1y

    @Anthony DiSanzo We have clients in 11 markets in the South/Midsouth from AL to Memphis to St. Louis/OKC/Little Rock to DFW/HOU. All that to say there is plenty of OOS opportunities out there even in the current market. 

    0Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 890 votes
    1y

    Hello @Anthony DiSanzo,
    I’ve lived in Memphis my whole life and have been helping investors like you build solid rental portfolios here for over 20 years. Memphis is a hidden gem for real estate investing. The prices are still really affordable compared to other cities, but you get solid rental income potential. It’s got a steady job market, especially with major companies like FedEx, Amazon, and international logistics hubs around here. That means there’s always a demand for rentals, especially in the right neighborhoods. Plus, the city’s been growing steadily, so there’s room for appreciation too. If you're looking to build a solid, long-term portfolio, Memphis is definitely worth considering! Please feel free to reach out if you want to learn about our market. 

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  • Anthony DiSanzoBusiness Member
    OP
    Real Estate Broker · Monmouth County / Ocean County / Middlesex County · Member since 2023 · 28 posts · 14 votes
    1y

    Thank you James, would you be able to send me some properties you think would work best? 

    0Reply
  • Allie McAlister
    Memphis, TN · Member since 2024 · 180 posts · 223 votes
    1y

    @Anthony DiSanzo

    If you're looking for low entry point properties that will stay in demand with a strong tenant base, I'd advise you take a look into the Memphis market. 

    Amazon and Nike both have large plants in the northwestern part of the city and Memphis is also home to FedEx world headquarters. In the next year, Blue Oval is about to provide 6,000 jobs from the manufacturer alone, and these are just a few of the companies feeding into the surplus of job opportunities ( and therefore tenants )  in the city. 

    If you have questions, I'm happy to give you a better picture into what the rental market is currently looking like. 

    3Reply
  • Jeff Roth
    Real Estate Consultant · Ann Arbor, MI · Member since 2022 · 465 posts · 255 votes
    1y

    Hi Anthony-

    You currently live in NJ and are looking for out-of-state locations that are affordable with strong rental potential.

    I would look at a market like Lansing, MI. You can get a duplex for around $150,000 or less. It is the State capital so there is always economic development happening which drives job growth and demand for housing. There are section 8 opportunities if you are interested in part of the rent being guaranteed by the government. Finally, the cost of living is relatively low which makes maintenance costs lower for the labor.

    To Your Success!

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