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Updated over 1 year ago,

User Stats

4
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2
Votes
David Millet
2
Votes |
4
Posts

Need Advice about suitable market for investment

David Millet
Posted

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.

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