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Updated over 2 years ago,
I am paralyzed - can’t pick a market
Hello BP investors.
I am all over the place looking for a market to invest. Norfolk and Virginia Beach, VA because of the possibility to do both STR and LTR with the same property). Memphis, TN and Birmingham, Al for LTR because of low entry market and decent cash flow). Raleigh,NC area because of growth. Jacksonville, Cape Coral, and West Palm Beach, FL because of easy access to property and can do both STR and LTR.
I am about to close on a HELOC with TD bank. I live in Miami, FL and I know I can't Invest here after all my research, nothing on the market makes sense. I currently own a condo rental in Miami that I bought pre-construction. But those days are over.
Now, where do Invest? As a nurse and in general, I have a high risk tolerance so I don’t mind investing out of state, preferably in the southern US market. However, I would prefer to invest in Florida due to easy access.
Budget is up to $400K for multi and $200-$250k for SFR in a B or A neighborhood ( my risk tolerance has a limit 😀. I don't mind a light BRRR, actually, I would prefer that.
I would definitely need a team because I work pretty long hours ( love my profession and my job).
My goal is to buy at least one property before the end of the year. Therefore, I need to pick that market and focus on it.
Thank you for your help.