Updated about 2 months ago on . Most recent reply
Out of state investing advice
Hello all,
currently own a duplex and renting for about $1300 a month in Evansville. Looking to get a second investment property. Any tips on what I should be looking for a second investment property? And if Evansville is still an good area to invest in? Thank you!
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#2 New Member Introductions Contributor
- Real Estate Agent
- Columbus, OH
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#2 New Member Introductions Contributor
- Real Estate Agent
- Columbus, OH
Hey Nick!
I’d recommend checking the cash flow on your current duplex first—make sure it’s covering expenses and providing a good return. As for Evansville, it’s been steady, but focus on rental demand and future development in the area. Look for properties with good value-add potential, like ones that need a little work but can yield higher rents after renovations.
If you're buying for cash flow, target stable rental areas. If you're flipping or doing BRRRR, focus on properties with more rehab potential.