Dennis Rootes I would go against Anthony Gjolaj advice about Texas anyways. It’s a heated market and the property taxes will kill your cash flow.
As far as choosing a market, just look at the population demographics, Price points, crime, industries etc, incomes
Look into it but don’t overkill it. If you do data too deeply it’ll become too much.
Good luck
@Dennis Rootes I also want to add that in Houston you’ll have flooding issues potentially but also in other parts of Texas you get a lot of hail and increased flood damage that makes your insurance more expensive.
I live in SoCal but can't afford to invest here. I want to buy a MF somewhere where it will cash flow with 20% down but I'm not sure where to look.
Are there tools or websites that can tell you the average rent of a place along with the average asking price?
The BP info says to build a team when investing out-of-state, but how do you decide WHERE to build the team?
Sure, I've been reading the forums and I've heard about Cleveland and Florida but I'd like to do some research too.
Hoping someone can point me in the right direction.
Thanks!
The Midwest is the way to go! Low prices, but increasing rents! There is demand, of course, from tenants. Investors have started looking more into these markets so now is a good time!
If you go the DIY route, there's that long-distance investing eBook that just came out on here recently (I forget the author...David someone?) that apparently is really helpful. If you go the turnkey route, I've always bought turnkeys and there are a lot of turnkey folks on here who can help.
@Jeff Greenberg holds a monthly casual networking hangout for investors in Santa Monica on the 2nd Saturday of every month and a pretty good majority of the investors there are doing out-of-state stuff, so it might be a good place to go to learn more of what they are doing and be able to ask questions and such.
Thanks for the shout out @Ali Boone haven't seen you out there in a while.
There are many So Cal investors buying out of state. Stop by next month and they will be happy to share with you.
I know...somehow the 2nd Saturday of the month lately has been the Saturday when I've had all my plans! I definitely plan to make it back though. Hopefully soon. Maybe July actually!