Best out of state area/cities to invest in SFR or Multi-Fam?

[Nova Mendoza]

My Husband and I live in California which is an extremely overpriced market. We'd like to invest in single family homes and possibly multi-family units. We are just starting out and want to do our due diligence in researching the areas you all recommend. We would like to get some advice on the best places to invest in markets out of state. If possible we would like to buy properties ranging from $20,000-45,000 as a buy and hold property. We are not afraid of doing a rehab as long as the numbers work for us. Really any advice would help us out.

[David Acosta]

Hi @Nova Mendoza ,

Check out the 2018 Best-Performing Cities by the Milken Institute. This will give you a breakdown of American job growth in the top large and small cities across the country.

Marcus & Millichap and IRR both release reports that cater to commercial investing. Regardless of your strategy, there are great in-depth market breakdowns as well as specialty indexes that can paint a picture of yield and growth across the nation.

You should be able to find these reports through a google search. Cross-reference each and create a short list. Beyond that, nothing beats local knowledge.  A market that may be of interest is Memphis.  There are a couple of turnkey companies (Mid South Home Buyers) in the area that could be a good starting point.