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Updated over 5 years ago,

User Stats

8
Posts
1
Votes
Alejandro Guimoye
  • New to Real Estate
  • Roseville, CA
1
Votes |
8
Posts

Midwest BRRR for under $100K ?

Alejandro Guimoye
  • New to Real Estate
  • Roseville, CA
Posted

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...

  1. How to best analyze which zip codes/areas to put on my radar and which to stay away from?
  2. 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? 
  3. Advice on things to consider when researching/analyzing these markets?
  4. 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. 

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