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Updated over 4 years ago on . Most recent reply

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Misael Carlos Vera
  • Rental Property Investor
  • New York, NY
93
Votes |
100
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Familiar Hometown Market vs. Long-Range Profitable Market

Misael Carlos Vera
  • Rental Property Investor
  • New York, NY
Posted

Should I invest in Chambersburg, Pennsylvania or at Tampa Florida. I've heard through BP (and other investing info groups) that it's important to invest in markets that fit your strategy and projected to grow in the future. However, I spent my childhood in Chambersburg, PA so I have tons of connections and have preliminary knowledge of the market. 

For some context, my strategy is to buy and hold. Get some cash flow going and, if advantageous, trade up property using a 1031 exchange. I am aiming for a market with lower property values (~50k) so that I can begin investing sooner.

I live in New York so both markets would be long-range. But, since Chambersburg is my hometown, I have much more resources for support. 

Most Popular Reply

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Aaron K.
  • Specialist
  • Riverside, CA
3,800
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

You aren't going to find much in Tampa around the $50k price point except maybe some condos which can have their own challenges.  See what your budget gets you in each market, if it were me I'd probably go with the bigger city for more long term growth, but that is just my style.

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