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Updated about 8 years ago, 12/30/2016
With $1mm credit to buy property: Where in the U.S do you do it?
Greetings Everyone,
I currently own 2 condos in Boston that I rent out but am painfully aware of the low yields relative to other parts of the country. I work in sales and have been offered a position to work entirely remote which would allow me to move/work from anywhere in the country. I'd like to sell my properties and relocate somewhere with a more lucrative rental market to build a better income stream.
Current Situation:
- I currently manage 2 properties that are worth a combined $1,015,000
- If I sell I will be left with around $300,000 in cash to start
- Since my mortgages started with 20% and 30% down I'm hoping I could leverage even further
Since I've read the best investments are in the least desirable places to live, the goal would be to buy as many high yield properties as I could in 1-3 years and then pay a management company to manage the portfolio.
If you were in this situation what markets in the U.S would you be looking at?