Which market will you invest in 2024?

[Jasmine Hu]

As title, I am interested in following markets: (no particular order)

1. Raleigh NC

2.Wilmington, NC

3. Charlotte, NC

4.Richmond, VA

5.Virginia Beach, VA

6.Jasonville, FL

7.Tampa, FL

8.Knoxville, TN

9.Memphis, TN

Among those, Richmond/VA beach are closer to me. Yet I feel Raleigh and Charlotte NC would be better for appreciation.
As of FL, I am concerned with future insurance cost.

Any other ideas? Please share.

Timing wise, I feel we will get better idea at the end of 2023 or early 2024. Unless it is a great deal, no hurry for now.

[Arn Cenedella]

@Jasmine Hu

Not sure I would go to Memphis and don't know the VA markets.

I’m in Greenville SC and love that market - midway between Charlotte and Atlanta.

Booming population, income, and job growth - not as competitive as the NC and Florida locations.

As you note insurance costs are in issue in FL and probably in Wilmington too.

To add some additional context, one can invest successfully in most markets.

For me, knowing your market is as important if not more important than selecting a market. One’s competitive advantage as an investor primarily comes from superior intimate market knowledge. No matter what market you select, you need to spend a lot of time there getting to know the market and the “players” in that market.

Which of these markets can you get to easily and often?

Pick a market drill deep into that market, learn the market and success will follow.