Whats your favorite rental market?

[Eric Telese]

Hi all! I tried searching this topic and didnt really find many new posts on it.

I am looking to buy out of state rental property (I live in NY). I currently have a bunch of places in mind but need to narrow it down so I can get going investing!

What are some of your favorite markets to invest in rentals? What kind of cashflow are you getting? What CoC ROI do you look for in your market?

Also what are the major things you look for in identifying your first or next real estate market? 

[Ali Boone]

I don't want to just answer with articles, but I've written a couple that speak directly to what you are asking.

For thinking of what markets to start with in general-

https://www.biggerpockets.com/renewsblog/out-of-st...

For general things I look for in markets-

https://www.biggerpockets.com/renewsblog/2014/02/2...

Then for current markets today, I work with turnkeys specifically (but the turnkeys tend to follow the cash flow) but right now I like Chicago, Baltimore, Philly and St. Louis for those. All solid growth markets, good market fundamentals, solid cash flow. Baltimore is the highest cash flow around 8-11%, standard turnkeys are running about 7-9%. But those cap rates are all turnkeys...if you're wanting to put work into something, it may be higher. 

Reach out anytime if you want to chat. I live in LA so same problem as NY and I've only invested in out-of-state rentals because of it.