OOS Looking for buy & hold in South or Southeast (FL,GA,SC,TN)

[Julie Sisnroy]

Hi,

I am knocking off some rust here since I have not bought any property in over 3 years.  Forgive me if I am not up on all the current lingo and slightly out of touch with the market from an investment perspective.  But I know I can always count on you guys for advice.  :)

I now live near Omaha, NE and unfortunately not a place for investment properties. I am familiar with the CO market, but CO has changed a lot since 2016, so it is likely out of reach, but still open. I just moved from the Atlanta area, so I am familiar with GA a bit. I am looking for a SFH or possibly duplex as an OOS investor. Now, I have only ever bought in places I lived-most often my primary I turned into a rental. Therefore, I am a bit scared to buy out of state.

I have narrowed it down to Florida (Tampa/Sarasota area) and Georgia (Atlanta) and possibly Carolinas or TN (anywhere that makes sense).  I prefer something that requires minor repairs-not an all out rehab.  I am looking in the <$300, if possible for a long-term rental.  I have the 20%, so prefer traditional financing.  (I currently only have 3 rental properties and one has no mortgage).

I know this is vague, but I am trying to find the haystack before I go digging for the needle.

Any advice appreciated.  Will also need a team and professionals in those areas (PM, Realtor, etc).

Thanks!

[Mark McMinn]

@Julie Sisnroy 

First I’m very, very bullish on both markets! Affordability, jobs, and population growth are all on a continued “up”.

Atlanta is much more nuanced and I’d need to get a lot more information on what you’re looking for to give guidance as to where and what but there’s huge upside in multiple areas.

Greenville and the bed communities surrounding aren’t talked about NEAR enough. I’m in the midst of buying a quadplex for $235k that will rent at $900 per door. It’s within a mile of top schools, retail/restaurant, development, and a major hospital. The appreciation projects and cash flow in Greenville... VERY compelling