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Updated over 5 years ago,
Midwest BRRR for under $100K ?
Hello,
I need help researching/analyzing locations in the midwest for my first investment property. I've narrowed my search to the following areas for affordable entry points and growth mostly.
Some things I discovered in my search as a newbie =)
- Detroit, MI - 15.1% rental yields, hip new destination for millennials, and large companies (Pfizer, Ford, Chemical Bank) moving there.
- Cleveland, OH - Home values up 10.5% over past year and efforts to become a tech hub (blockchain innovation)
- Indianapolis, IN - Named #1 state in US to make money from REI by CNBC and Indianapolis ranked in the top 20 markets to watch.
I'd love to house hack a multifamily under $100K. Here are my questions...
- How to best analyze which zip codes/areas to put on my radar and which to stay away from?
- Aside from BP, what are other websites, blogs, publications, or resources to dig deeper for information such as economic growth, expansion, etc in specific areas?
- Advice on things to consider when researching/analyzing these markets?
- If you were in my shoes as a first time investor, where would you buy your first multifamily BRRR for under $100K in the Midwest and why?
Thank you so much for your time and help.