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Updated over 2 years ago on . Most recent reply
Out of state investing
Greetings all! I'm a resident of California and looking to get into out of state investing in the next year or so. I'm thinking for my first rental a turnkey property would be best and then eventually move into BRRRR. Everyone has opinions on what cities are the best to start investing in across the country. What are people's opinions and why? Hoping to have about 40k to invest. Thanks in advance!
Most Popular Reply
Hey Ryan!
When it comes to picking a market it depends on a few different factors.
First of all you have to ask yourself if you want more cash flow or appreciation.
After that I think it's important to look at markets that are seeing continued growth, evaluate cap rates, and honestly finding a good turnkey team such as agents, property management. This can be challenging but BP can be a great resource in finding this!
There are a lot of different factors to consider but try not to get analysis paralysis. Sometimes it's best to just pick a market and run with it. There will be plenty of learning experiences along the way but that's how you grow! If I can help with any other questions feel free to reach out.
Good Luck!
-Lexey