First Rental Purchase Opportunities

[Robert Hugs]

Ello!

I have $33,000 burning a hole in my pocket & i'd love to purchase my first rental property. I currently live in Las Vegas, but I'm having trouble finding anything that I believe will cash flow. I am open to purchasing in any other areas. Anyone have any ideas of where I should be looking with great cash flow?

Thanks in advance! 

[Tyler Jahnke]

Hey @Robert Hugs - the question I assume you're alluding to is...what market should you invest in?

That's a tough question. But, I'll start with this...you probably will never find the "perfect" market, but you can find really good ones. So, don't get stuck in the analysis paralysis phase. You NEED to eventually pick one and run with it, otherwise you'll be stuck on the sidelines reading forums like this :) With that being said, there are a number of metrics to look at:

• Population growth
• Job growth with higher wages
• Business friendly
• Diverse economy
• Strong occupancy rates
• Acquisition price-to-rent ratio
• Landlord friendly
• Infrastructure development
• Lifestyle amenities
• Education

Plenty of other metrics to look at too that I'm missing. I personally invest in Indianapolis, Louisville, and Phoenix and I'm really bullish on multifamily in Phoenix right now.

Let me know if you have any questions!

-Tyler