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Updated over 4 years ago,
Hello everybody! First post and question.
Hey guys, happy to be part of the BP community and thanks for reading.
My wife and I are newbie investors with 5 doors in our local market, 4 are under contract so we have little experience with how hard it will be to find renters. The one SFW has been easy over the past 5 years, but I understand that in small markets with low populations and growth, industries, jobs, etc. it will be harder to find renters. Just looking to hear your thoughts about this assumption. I ask because, in the COVID market, it is difficult to find deals (low price, high potential return) in our chosen, larger, distant market, but there are some cash flowing deals locally. Our goals are cash flow, forced appreciation/BRRRR, and tax sheltering my wife's income. I am REPS and manage our local properties.
So, anyone successful at investing in their tiny local markets? Support for/against the local, stagnant vs. larger, growing target markets?
Thanks!
Chris