Choosing a New Rental Market

[Account Closed]

Hey BP,

I've got a question for you. I have been researching two new markets outside of my local market, Market A and Market B, for long-term buy and holds. I've been doing by due diligence, reviewing the economic base, tracking property values, following employment trends, checking off the boxes you know. At the end of the day, they are looking pretty similar and they are both a relatively equal distance from me, but I would say that Market A has slightly better fundamentals.

But here's the kicker. I have visited both locations, and I personally prefer Market B. As in the restaurants, the people I've interacted with, the surrounding areas, etc. I'd like to create systems in these markets to be as hands-off as possible, but at least in the beginning stages, I will be visiting these areas frequently and would like to enjoy it!

So my question to you is...do you invest in the area with slightly better fundamentals, or the area that you personally prefer? Market A or Market B?

[Derek Harris]

Originally posted by @Account Closed:

Hey BP,

I've got a question for you. I have been researching two new markets outside of my local market, Market A and Market B, for long-term buy and holds. I've been doing by due diligence, reviewing the economic base, tracking property values, following employment trends, checking off the boxes you know. At the end of the day, they are looking pretty similar and they are both a relatively equal distance from me, but I would say that Market A has slightly better fundamentals.

But here's the kicker. I have visited both locations, and I personally prefer Market B. As in the restaurants, the people I've interacted with, the surrounding areas, etc. I'd like to create systems in these markets to be as hands-off as possible, but at least in the beginning stages, I will be visiting these areas frequently and would like to enjoy it!

So my question to you is...do you invest in the area with slightly better fundamentals, or the area that you personally prefer? Market A or Market B?

Michael, why not invest in both? Unless there are so many deals to be found in either Market A or B and you have to choose only one, I would put both markets in my funnel.