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Updated over 1 year ago,
Need Advice about suitable market for investment
Hi. I am new here. I am planning to sell my sf home and move to a less expensive area where I can purchase a home and investment properties. My budget is approximately $800,000 total including cost of repairs. I am not handy and will need to hire contractors. Budget is for primary and investment properties.
My criteria: looking for a single family with at least 3/2 on a tree lined street with a nice backyard in an upscale, safe neighborhood. May consider an upscale townhouse or condo. Looking for investment properties to net me approximately $4,000 per month or close to it. I want to be in an A level location with A level tenants. I am open to multi family, condos or sf. Will do work if priced properly. In fact, very open to rehabs/ fixer uppers.
I am open to locations across the US. I want to be close to the beach though. I am open to Ocean or Great Lake beaches. I do not want to be in an excessively hot location. I am considering Cleveland, Chicago and Milwaukee suburbs on the Lake. Possibly Virginia Beach area. Would consider California possibly Ventura County if I could find a property on a large lot where I could build an ADU but I think I'm priced out there.
I’m looking for feedback on these areas plus suggestions of areas you think could work for me. Thank you so much.