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Updated over 3 years ago,
Where would you move to in the US for rental property investing?
Hey guys, this is my first post here; thank you to anyone willing to share their input with a newbie investor.
I am a Canadian looking to move to the US for work and start investing in rental properties. My goal is to buy properties that appreciate well and cash flow at least $100/door on year 1.
I can live anywhere as I work remotely but I am getting a bit overwhelmed with all the data (can be found below) I need to consider in picking a location.
Assuming you are in my shoes and have $20k USD to invest (i.e. 5% down as I will be house hacking), where would you move to?
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((OPTIONAL READ)) ADDITIONAL INFO
So far in my analysis, I am collecting the following data:
- Net migration (at the state level) over the past 10 years & 1 year
- Median sale price (redfin)
- Value appreciation over the past 5 years and 1 year (redfin)
- Average rent (rentcafe)
- Rent to price ratio
- Income tax
- Job growth and industry trends (haven't found a good source to gather data yet - just reading high-level articles for now)
- Average rent growth (if someone has a good source for this please share as I haven't found one yet)
- Cost of living index (numbeo)
- Quality of life index (though investing is my main priority now, I am still looking at quality of life a bit)