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Updated almost 5 years ago,
1st-time buyer: Wanna know what factors to consider for city
I am trying to decide in which city I should invest to get a rental property. I have considered the below factors that resulted in choosing Sacramento as the place. I just wanted to get others' opinions on it to avoid any pitfalls:
1- the sale price range
2- sale-to-rent ratio
3- proximity
For example, looking into the Indianapolis's market, it seems that it has a much better sale-to-rent ratio, however, since it is very far from me, it makes me concerned, while Sacramento, though it is not super close, it is like 3 hrs drive from me, and I thought it would make it a bit easier for me in case something happened and it needs my presence there.
I'd like to hear about your comments, to see if I am thinking correctly, and also what I need to consider before start reaching out to the real estate agents in the area.