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Updated about 5 years ago,
Which out of state market to invest in?
My friends and I have pooled together $90000 and would like to do a BRRRR deal by spring 2020. We live in west coast where properties are expensive and ROI isn't good, and we are looking to invest out of state. Ideally we would like to do a single family cash deal for our first property, and we are in the phase of brainstorming on which market to go into. Here are some cities piqued our interest from our research:
- Cleveland, OH
- Memphis, TN
- Chapel Hills/Raleigh, NC
- Dallas/Fort Worth, TX
Since we don't know anyone in those cities, we were wondering if there's a systemic way or metrics that can help us evaluate which market would be better for our first deal? Any other cities we should look into? And we were also wondering if anyone experienced in those cities can give us some insight on how these markets are doing? Thanks in advance!