Go with the numbers or what I know? Picking a market

[Jason Hawkins]

Hey all,

I am a long time lurker.  Had a rental years ago and sold due to foundation issues and have been on the sidelines since.  I have also worked in construction for the last 17 years as a project manager.  My market (Denver) is too high of an entry point for my liking, I would like a market I can pay cash for a property, looking about $150-175k max entry on purchase not including rehab.

I have been endlessly researching out of state markets and repeatedly find the same markets popping up.  Ohio, Indy, Florida, Carolinas, parts of Texas, even OKC.  But I see quite a few people recommending to go with what you know as well.  I used to live in New Orleans and have friends there I trust that would not have a problem checking on potential deals/rehabs/properties once closed.  Also have friends/family in other markets such as Mobile, AL-Buffalo/Rochester, NY-Nashville, TN-Dallas, TX.  

I understand numbers have to work but also wondering about more experienced investors input on this.  Don't reinvent the wheel and follow what other successful investors have done and get in the markets such as Indy or Ohio or.... go with what I know?

Thanks,

Jason

[Lane Otto]

Stick to a market and make a move. Definitely helps having a person on the ground that can keep an eye on things for you. My dad helped me check out properties and keep an eye on the construction, not sure how people do it without someone they can trust. It really makes you realize how valuable a good property manager is. So my advice is to stick to an area you know and have connections, it made things a lot easier for me.