Advice on choosing long distance investing location

[Brynne Andersen]

Hi all, I live in the Bay area and due to local prices being so high, I'm looking for my first investment property out of state. Budget would be up to $500k. Without having been to all the cities I'm considering, what data or qualities should I look for in those cities besides the basic population growth, job growth, etc.? I'm having trouble narrowing down from about 10 cities as they all meet the basic criteria I've been told to look for.  Much appreciated!

[Tim Ryan]

Brynne, you say "without having been to all the cities..."  And here lies the key. You must go and meet the people on the ground.  I travel at least quarterly and sometimes every other month to my market.  I have also picked exactly 1 market to work in.  I can tell you more if you DM me.  Quick story:  I got a call from a broker in Chattanooga a number of years ago who had a deal for me. I bought it and it was a home run.  He told me this: "Tim, because you came to town and insisted on meeting me that one day at Starbucks and we hit it off, I decided to call you first".  I'm from Los Angeles and trust me, these states don't like CA!  I had to overcome that with my presence.  Hope this helps.