Best Cities to Invest?

[Jonathan Gilkeson]

Hey guys, I'm looking at buying an investment property out of state. I currently live in Southern California, and through my research I've found that you can get much better returns in different areas. I'm curious to hear if the investing community has any advice on a good city to get started in? I'm looking for a good cap rate around 10%, in a decent neighborhood with good renters. Trying to stay under $200,000 open to multi-family or single family if the numbers make sense.

I've also found out that it's critical to have a good property management team in place since I won't be in town to monitor. If you have any recommendations on a good place to start looking and who to get connected with I would love to hear more about it!

[Peter Ledger]

@Jonathan Gilkeson I know it's said a lot on this site but Cleveland is a fantastic market. We didn't realize how good we had it until the turnkey portion of our business started growing and we were meeting more and more investors from OOS. The rents here are incredibly strong with very low cost of entry. Even for turnkey properties, you can pick up a fourplex for $250k that's getting $28k in annual rents. There's SFRs between $40 and $65k getting $700 - $1,100 in monthly rents. It's a great place to be right now.