Help Picking an OOS Market- My story below

[Shaylynn O'Leary]

I need help picking an OOS market. Let me tell you my back story. I live in Central Oregon where the median home price is approximately $725k. I have recently obtained a property off market that we’re flipping and wanting to reinvest most of the proceeds into an OOS market that is more affordable. We are not interested in owning rentals in Oregon, only flipping.

Our goal is to have a small but mighty portfolio, much like Chad Carson’s model he describes in his book and podcast. We want to use proceeds from our flips here in Central Oregon to acquire and eventually pay off properties in a more affordable market.

We prefer multifamily properties where we will do a mix of MTR & LTR, but also open to SF. The properties do not have to cash flow a significant amount (although I wouldn’t hate that) they just have to sustain themselves as we have three incomes between us and not looking to quit our W2’s to live off cash flow.

My problem: I’m having a hard time picking a market that meets my goals. Some markets I have considered are:

• St. Louis, Mo
• Kansas City, MO
• Indianapolis, IN
• Dayton, OH
• Raleigh (area), NC

I would appreciate any insight and time anyone is willing to give. Thank you.