ELIMINATING MARKETS TO FOCUS ON A SPECIFIC MARKET TO INVEST IN

[Jason Malabute]

Hi Guys, 

Originally, I started looking into the following markets:

League City, TX

KATY, TX

TEXAS CITY,  TX 

PEARLAND, TX

NORMAN, OK

WINTER GARDEN, FL

BOERNE, TX 

It is too much to keep track of all these markets, so my goal is to cut down my markets to 3 markets this week. Then pick 1 market by December to invest in. I will purchase my first rental property in 1st quarter 2019. The markets above were chosen based on population growth, job growth, etc. 

I am only interested in 2-4 unit properties.   By far the Houston markets (League City, Katy, Texas City, and Pearland) has the strongest population growth. and job growth out all the markets mentioned above. The problem is they are all pretty suburban areas (There's not much multi-unit properties there). The only exception is Texas City. Texas City has a place called  "Chelsea" which has more multi-unit properties, but I heard it is a rough part of town and many businesses are moving out.  Renter percentage in these areas (except Texas City) are 24-27%. The average percentage of renters in USA is 32%. Moreover, most of the people living in these areas drive 30 minutes per day to downtown Houston and Houston Medical Center.  Therefore there is no actual economic anchor in the in the Houston markets mentioned above. Unlike, Norman (Oklahoma University is located here), Winter Garden (University of Central Florida is located here), and Boerne is a military area. All three had positive net migration numbers (Houston had negative net migration because of the hurricane/flooding in 2017).

Lastly, a lot are saying that Houston markets are already over saturated with investors,  the property prices are too high,  etc.

Since I am trying to narrow my market search in investing in a 2-4 unit property would you guys agree that I should eliminate the Houston markets above and focus on Norman OK, Winter Garden Fl, and Boerne TX?