Top States/Cities to invest in right now

[Fernando Vitorino]

Hello all, my apologies if this questions has been brought up more than once during recent times. 

Based on your overall market expertise, what are the top cities to invest in real estate right now? To clarify specifics, I will use locations that I currently invest in. Providence RI, has been my area of focus for the last 10 years. Im able to pretty much pin point the best deals down to street by street basis. By no means am I as successful as many of the investors here on BP but I definitely know my area well. That being said, I can say with confidence that inventory is very low and prices are extremely high. As is the case throughout most of the country. To add, when looking at public records, there are properties selling for double (sometimes even triple) the purchase price of that 3 years ago in some cases. 

You can still find deals in which you over pay for a property but your market cap is still 8% or higher even with expenditures on the inflated side. Rents do justify purchase price in some deals but prices in general are hard to swallow. 

Newport RI, is another example. The closer you are to the main tourist strip (Thames st) the more prices begin to make you sweat. In summer rental locations you can get $2000 - $3000 per week on a turn key property selling for 1million - 1.3million. Ive been a part of conversations with local investors/realtors where people are paying 20,000 per month to live in certain properties in Newport RI. 

Anyway, Id like to know where prices seem to be less inflated where market cap is still above 8%? Where in the U.S. do prices actually make sense? 

Coupled with this, I speak with a lot of investors that say, who cares about the purchase price. If your in an area that meets promising rental criteria and the rents justify the purchase price, I would buy. If the value of the home dips, im still making passive income. Personally, I cant seem to swallow this thought.

Would love to hear everyones input on this! Happy Memorial day weekend to all! Big thanks to those who serve and/or served in our military!