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Updated about 4 years ago,
Move to bigger city for better investment opportunities ?
I’m still trying to figure out my first property acquisition. I’m located in Palestine, TX (population 18,000)and the market out here seems to be very slow with a very low appreciation rate. I’m interested in house Hacking to get started, but there are zero multi family units available within an hour. Also, it is very difficult to find off market deals. It is a rent friendly town, but it’s very hard to find good enough deals with such a small offering of homes.
My question is this: should I move to a bigger market for better real estate investment opportunities? I’m interested in building my long term wealth through BRRRRs, and possibly do flips to build capital. What do you think? Is there better opportunities in the cities in Texas, or shouldn’t just hold out and wait for something here? I’m sorry for the long post, and thank you in advance!