We've been investing in CT for a few years now and are looking to start building a team and investing out of state. Just wanted to get some opinions on what cities and markets other investors are working in and why it appeals to them. We are looking for properties we can BRRR, but would also be open to flipping as well.
Any response is greatly appreciated!
A lot of good things going on in Indianapolis - both flip and hold. Some have said inventory is tight in Indy, but we've never had a problem finding flips or holds. I've been involved in some positive things in Cincinnati as well. Haven't done anything in Kansas City, but I do know it's growing and its a great investment town. In general, the Midwest seems like a good place to be.
@Andrew Jambor for turnkey look at Atlanta, Indy, Alabama, Texas (although these won’t cashflow) kcmo, I hear people are starting to go Detroit but I am not sold there
Say Nice Things About Detroit! Great place! Great People! Great place to Invest!
My advice to you is to follow what you mentioned...."start building a team and investing out of state". Now the question becomes how??
Attend various networking events and scout BP members (preferably those who are not too far from you) all with the intent of finding/talking to successful out of state investors. You want to talk with them and see how you can join their team to learn the ropes.
I have been investing out of state for a decade now and I can tell you that it'll save you a lot of time and money going that route. Best of luck and if you ever have any specific questions keep in touch!
Thanks everyone for the comments! Definitely not looking for turnkey properties as we are looking to force some appreciation on these properties. @Steve Kontos , We will be scouting BP as you mentioned to see if anyone in CT has been doing this as well. As you know, while there are still deals to be found locally, we are just looking to extend beyond the local market.
Understood and if you have any specific questions regarding out of state investing, feel free to reach out.
If there are still deals to be found locally, why would you go out of state? Sounds like a good way to ruin a perfectly good business.
@Sam Barrow , While there are some deals to be found locally, CT is quite expensive when it comes to investing. We can find 2 properties for the same price as one in CT in a different market and get the same return on a flip or cashflows for rentals. We have a crew in CT that we want to keep busy, so we will still keep going here, but we do want explore beyond our comfort zone and look in other markets.
I'll also ring the bell for Indianapolis.
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