Rookie Looking for a Market!

[Damien Pulvino]

After posting my initial BP post a couple of weeks ago about picking an investment market, I received some great advice from a bunch of folks of how to find an OOS market. Using the tips and advice received I have been scouring the country for my initial market to invest in.

After looking at a bunch of markets, using BP Insights and the webinar Dave Meyer created "How to Find a Market Using BPInsights" it seems as if most of the markets I have found that have great RTP ratio are in areas that people are migrating from. Buffalo, Cleveland, Dayton, etc all have great RTP ratios but are losing population, and have other detractors (e.g. high vacancy rates). The "hot" markets where people are migrating to (anything south and west?) seem to be cost prohibitive for first time investors.

Who has gouge on where there are markets that have a happy medium between a good RTP ratio that are not overly expensive that people are migrating to? I have identified a couple of markets (Des Moines, Clarksville, TN, etc) but am curious what else is out there that I am missing. My research has not been exhaustive, but I figured I would hit the "easy" button to hear what additional nuggets of wisdom our community has to offer.

Just for reference, I'm looking into SFR or small multi-family, buy and hold, cash flow and long-term equity. All feedback would be appreciated!

[Brandon Sturgill]

@Damien Pulvino If you would have bought in Columbus 5-years ago (anywhere in Columbus) you would have nearly doubled your investment worth...and we're not even getting close to the potential of what this market can do. That said, there are some other great cities...I have family North of Des Moines, Iowa and it's a happening spot...really, truly, surprisingly a cool spot. The last summer we were there, downtown was on fire...I didn't see but a couple folks over the age of 25...very noticeable building and development, but still manageable. 

As far as development and economic metrics go, Columbus, Oh is as good as it gets in the Midwest.