Best areas to buy rental homes

[Brian Nguyen]

Hi I’m a newbie in real estate investing . I am trying to purchase a sfh or apartment ! I stay in California and I don’t mind commuting back and forth as long as it’s not too far . I was wondering what are the best areas to invest in for rental homes ? AZ? NV? Anywhere in California ?? Thank you.

[Carl Millsap]

@Brian Nguyen here's what I recommend:

1. Each investor has their own criteria for investing, what is the "best" for me, may not be for you and vice versa. Define your criteria.

a. What is your goal? 

b. How much do you want / have to invest in a property? 

c. Do you want to self manage or hire a property manager (PM)?

d. How far are you willing to travel based on if you self manage or if you have a PM? 

e. What's important to you..... monthly cashflow or appreciation or potential for both?

f. Do you want to invest in SFH, small multifamily or large multifamily?

2. Once you answer the above, then weigh the pros and cons of investing locally or from a distance.

Every place is a good place to invest, just depends on what your goal is.