Best cities and districts to invest in 2017 / 2018

[Account Closed]

Based on your experience, what are the best cities to invest in the next couple of years?

The city i live in (los angeles) is overpriced and most of investments i've seen lately do not make any sense; i'm therefore compelled to now look for opportunities in other cities and states where the markets are still recovering.

The strategy would be mosty buy and hold; value added multifamily and single family portfolios projects; the strategy would be to buy at a discount, rehab, lease, refi, and move to the next project

Criterias:

- minimum 1-2m+ metro areas

- landlord friendly laws

- minimum 10% net cap rates

- strong appreciation

- low vacancies / supply

- low property taxes

- low income taxes

- low price to income ratios

- positive demographics

- healthy local economy

I've done some researches and found that Detroit, Cleveland, Indianapolis, Pittsburg could eventually be interesting markets despite weak demographics; at least for the next couple of years

What's your take about that?

[Michael Swan]

I have 109 front doors in Euclid, Painesville, Cleveland Heights, Shaker Heights, and Akron.  Dayton may be another.  I truly believe that these areas are an emerging market and the price is right.  Be careful about RE taxes in these areas.  Read David Lindahl's Emerging Markets book and you will see why.  I also love his Multifamily Millions book too.

Swanny