How to go about selecting a market

[Chance Sweat]

Hey there!

Been listening to the podcast for over a year, read a handful of books from Brandon and David and committed to buying my first BRRRR (ideally) in the next 90 days.

I find that Orlando is too hot for me to compete currently.

Any suggestion on how to pick a market near or far to focus on as a newbie investor?

[Subbie Kaur]

@Chance Sweat

Hey Chance! 

Here are some things that we make sure exist in a market that we invest in:

1. Low property taxes ( really important if you are looking for more cash flow! Low taxes and low property prices are a WIN)

2. High rental demand( this will make filling units much easier if vacancies do occur, and also we have noticed that in areas where there is high rental demand, tenants will stick around much longer)

3. Landlord friendly laws ( you want to invest in a state that is more landlord friendly, this will allow you to have a much more positive experience as an investor)

4. MOST IMPORTANT ( A GOOD PROPERTY MANAGER) This is KEY, you want to work with a property manager that has a good reputation and also is able to educate you about the market. They should know the trends of the market, the demand, and overall just have a clear idea of how their market works!

Hope that helps!

Let me know if you have any questions