How to know where in the US to look for good real estate deals?
I live in MA and wish to rent out my home and purchase another. Took out a HELOC and plan is to "up grade " my home and therefore put down 5%. I have a lot of flexibility other than my job currently work in CT. Would like to consider either fix and flip or house hack this next property or even rent it out completely depending on where I find a good deal. Would love to find good out of state options. How do I know which city/state to look into? How do you know where the market is "hot"? Also is investing in condos fixing them up and flipping valuable ?
Thank you you all. Appreciate the insight.
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#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Saw Cleveland get mentioned. Cleveland can be good, or bad. The biggest thing out of town investors need to do is figure out what's what in the Cleveland market. You can really get yourself in trouble just looking at the best priced properties on Zillow. There are reasons why properties are priced the way they are and if you don't understand those going into it, you'll get smoked.
Check out The Ultimate Guide to Grading Cleveland Neighborhoods to learn the lay of the land so to speak. 1,000's of investors have used this guide to help them minimalize risk when they invest in Cleveland.