Best places to invest for a rental property

[Anthony Holloway]

Hi Everyone!

I’m looking to invest in my first rental property this year. I wanted to know what places are the best to invest, to buy a 2 unit property not exceeding $400,000. Any specific states, counties and cities recommendations will be a lot of help!

[David Haynes]

@Anthony Holloway Just like @Kenneth Williams, I'm biased as well haha. The Philadelphia suburbs are a great place to pick up a multifamily for under $400K with strong cap rates. In fact, I just sold a well-maintained off-market 9-unit in the nice part of Norristown, PA for $450K. A place like that would bring $8,300/month in gross rent easily. Recently, duplexes in B level neighborhoods have sold just above $200K with $3,000 in gross rent. It's worth checking out. 

PA is a tenant-friendly state, yet investing outside the city isn't too risky. Evictions have happened recently in Delaware County and Montgomery County PA within 60 days.