Suggestions on narrowing down your investing market?

[Nick Cresci]

I'm new to the forum and looking to find markets to invest in. I think the ideal market would have a median price range for 3br/2bth in the 75,000 to 130,000.  I expect to be investing long distance I'm based in northern Nevada. Looking to get suggestion on any market that meet the criteria or how other BP members have found there market when there local market numbers don't work.  

[Jody Sperling]

Even six months ago, I would've said your numbers for a 3/2 were easy to find, but nationwide prices have surged on low interest rates, economic stimulus, and limited inventory. Even in ideal Middle West states like Indiana, Ohio, and Michigan, those prices are now fairly uncommon. 

Your best bet if you want those prices is to pick a target market, design a mailer, and advertise for off-market property. I've snagged two houses for very low prices in the past four months because the sellers wanted to move quickly and had issues that made the property hard to sell through the typical avenues, but if I was only relying on MLS listings, I'd be shut out right now.

What are your long-term goals with real estate? Are you open to managing rehabs? Best of luck!