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Updated over 7 years ago, 04/29/2017
BP, help me pick a city for Buy and Hold!
Hey BP,
I live in San Diego, CA and would like to invest out of state. I like the idea of investing OOS because it means my investments will have to be passive and it gives me the whole country to choose from. The downside of having the whole country to choose from is it can be somewhat overwhelming. After spending some time researching various markets around the country and getting overwhelmed, I figured it wouldn't hurt to ask BP for suggestions.
Here's the deal:
- Looking to invest this fall when I will have approx $50k cash to invest
- I also have approx $200k in equity in primary residence that I can tap into with HELOC
- interested in properties ranging from $50K - $200K
- Interested in buy and hold properties with >10% COC return
- Prefer landlord friendly cities, ideally with low property taxes
- open to SFR or small multi
BP, what cities would you recommend I take a closer look at?
P.S. I'm not interested in hearing how I should be flipping or wholesaling in my hometown. I'm only interested in Buy and Hold at this time, and even the war zone neighborhoods in SD don't cash flow.