Looking for the best rental market
I am new to BP and the REI market, I operate my own Agricultural Retail business, which keeps me busy full-time. For a long time I have had an interest in investing in real estate. Currently I am sitting on a chunk of cash that I want to invest somewhere to generate more income. My stocks have not done me many favors. So I am looking at investing into multi-family rentals. Is that a good place to invest for significant returns? And also I figured that I would start close to home (Iowa City, IA) but I began wondering, is this market as good as some of the other markets or would it make more sense to invest in other areas, like in other states?
Any suggestions? Your shared experience would be appreciated!
Most Popular Reply
@Vernon MartinThere is no "best" market. If there was a "best" market, all capital would flow there, pushing up prices and making it no longer the "best".
The flipside of this coin is that good money can be made in almost any market with positive population and job growth trends. (And even in cities with generally poor trends, my guess is you can find sub-markets with good future prospects.)
The most important thing in my book is that your business run efficiently. What that means in my book is that you live close enough to your investments that you can handle certain tasks instead of going to market for everything. Think about how inefficient t would be if you were running your agriculture business from another state.