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Updated over 4 years ago,
Resources Analyze Nationwide Markets?
Hello BiggerPockets Community,
I live in a NYC metro area and I'm hoping to buy an OOS property as a long term rental. This will be my first real estate purchase.
I'm wondering if there are resources or recommended approaches to identify markets which are the best opportunities for this type of investment? I'm at the beginning of this process and I'm basically hoping to put together a short list of maybe 5-10 locations in order to start doing more in depth research. In my mind I'm thinking of somehow to compare appreciation rates, job growth, rental ratios, etc.
I don't have experience living in another market which could be an option. I also don't have a team, or contacts in potential markets either. I do understand the critical importance of a good team, and plan to focus on this once I have a short list.
Any ideas or suggestions would be really appreciated.
Thanks,
Dave