Location of starting the BRRRR

[Alon A.]

Hey,

Im doing few posts lately to here feedback and understand what is the best route for me.

There is so many locations to invest and im struggling between few. 

I have around 150K-170K on hand to invest in any property i want.

I got approved for loans with 20% and good rates so that is not an issue.

I used to live in Austin Texas and i love Austin but i dont know if its good to invest for 1st time there.

DFW, Texas is attracting me as well and more affordable with around 200-250K houses

Jacksonville, Tampa & st pete is also interesting markets.

Columbus OH

Columbia, SC 

on other hand, there is cheaper im thinking to go with Cash Flow or with Appreciation ...

Cleveland OH, Akron OH are market with around 80K-100K houses and the rents on them are good, but the area it self its not have high appreciation rate year over year.

If i go with 250K + 50K remodeling it means i put 60K down payment but cant get $1800 -$2000 rent, so its not the best cashflow.

I need your help with what do you think in my condition is the best to do ? Im going between 6-7 different markets and im not focused, i need to build a team in one place , im spending ton of time about searching and searching more and more

[Jack Smith]

Hello Alon,

I am a long term, multi-generational investor in Canton & Akron, Ohio. We just sold a handful of properties last fall that we’ve owned since the 90s. After inflation they just sold marginally more than we bought them for back in the day. Don’t count on appreciation around here, it’s a slow road. But rents and cashflow have always been good. Housing shortage, inflation, wage increases have driven up rents, demand, and standard of living around here. But we’ve leveled out from last year and both rents and values have plateaued or even dipped a hair.  Be cautious about jumping into a market & economy like this.