If you could buy in any market, where would you buy?

[Emily M.]

The topic says it all: say you could invest in residential (multifamily, with maybe a few house flips here and there) up to 500k. Where would you go? I'm sick of Chicago's property tax hikes. 

Looking for markets that are:

-warm weather (no or limited snow shoveling)

-low property taxes (we're comparing to Chicago so pretty much all markets have lower prop. tax)

-landlord friendly

-growing, young/hip

Ideas? Thinking of something similar to Nashville, TN.

[Chinmay J.]

Originally posted by @Emily M.:

@Chinmay J. sure, that's the response everyone gives. Boring! I want to hear about new/emerging markets. Sure, I can make money in Chicago, but all the wiring's gotta be encased in hard conduit and copper/pvc is code (no romex, no pex), and that will cost you no matter how you slice it. There are better returns in certain markets.

Sure. I love boring stuff. Boring is where money is. If you live in Chicago and want to do business in Arizona, sure. You can do that, but you better have a pretty damn good system to make it work in your favor.  It can be tricky to buy real estate in other states. Be prepared to travel there and get feel for it, and that costs money (at least it did last time I checked). 

I am always amused when people talk in broad terms like the Chicago market or Scottsdale market, and paint with broadest possible brush. Real Estate is local.. zip code by zip code.. community by community...block by block.