What state(s) should I look into buying rental properties?

[Gregorio Villar]

Hi Everyone,

This is my first post on BiggerPockets.

Can anyone point me to an article/video/resource that will teach me how to select the best city/state to buy rental property in and factors that I should consider when picking a location?

Thank you!

Gregory

[Robin Simon]

Quote from @Gregorio Villar:

Quote from @Dalton King:

I would start by looking at your local market. If you are not too into statistics, find a realtor that posts market updates/research on your local market. After looking at the different areas of your market you can put together a pretty good idea of if your market is good to invest in. 

Other than localized factors there are things that are more national/federal like rates/broad price reduction.

Things like # of homes sold, on market, expired, amount of homes being bought as investments, rental rates, vacancy rates, apprecation, etc.. will help identify a good market.

 great recommendation on local market. i guess that makes sense since i'm at least somewhat familiar with the area i live in and it's cheaper to do in-person research starting out.

 I'd definitely agree with this - its best to both jump in and not spend too much time hesitating and to not have too high of expectations of hitting a "home run" on your first deal (rather look at it as a learning curve).  Even though other markets may be better, the experience you gain if you have boots on the ground in your local market is a huge plus