Finding a market to narrow down to

[Abraham Shamosh]

Hi BP members,

First post here, been doing a lot of research and ready to find property and pull trigger. Thing I’m struggling with is they say start in your backyard and you’ll have an advantage. I live in Brooklyn NY and my backyards very expensive for a newbie lol. How does one find a market and narrow down to find a deal when there are so many markets. Where should I start? Where should I look?

[Joshua Janus]

Investing out of state will allow you to select the best producing markets now and in the near future. In order to be successful at it, I would advise developing your Core Four: investor friendly realtor, reliable contractor, sophisticated lender and a reputable property manager. You want every spoke of the wheel to perform so your investment tool can produce the returns you're looking for over time. Here are some relevant articles that go into more detail on out of state investing:

https://www.kiavi.com/blog/out-of-state-real-estate-investing

https://learn.roofstock.com/blog/out-of-state-real-estate-investing

I choose to invest in Cleveland and Columbus, Ohio. Cleveland is ideal for lower priced multi family properties with soaring cash flow. Columbus is a top five appreciating city in the US with an unexpected mix of cash flow which is backed up by a population and job growth. Breaking the One Percent Rule isn’t uncommon in either of these areas and can be applied as a baseline in situations where immense appreciation isn’t expected in B-C class neighborhoods. Whatever market you choose to put your money in, spend the time to learn it.