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Updated about 8 years ago,
Best city for BRRRR right now
I'm trying to decide where to purchase my next BRRRR.
I just refinanced my latest property in Milwaukee. I paid about $70k including rehab and I'm getting $1050 rent. My first thought is to get my next property in Milwaukee again. My other three properties are in Charlotte.
When I did a search for "Best cities for real estate investors" I get the following list from Realtor.com:
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Those focused on getting a healthy flow of rental income from the get-go might want to cut this list out and put it on the wall:
- Cleveland, OH, at 11.1%
- Columbia, SC, at 9.7 %
- Birmingham, AL, at 8.5%
- Pittsburgh, PA, at 8.4%
- Milwaukee, WI, at 8.4%
- Cincinnati, OH, at 8.2%
- Memphis, TN, at 8%
- Greenville, SC, at 8%
- Tampa, FL, at 8%
- Philadelphia, PA, at 8%
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I'm not sure I want to trust Realtor.com to help me decide where to invest. What do you guys on BP think?