Help Picking a Market

[Priya Gohil]

I need help picking a market. Just watched Bigger Pockets podcast/video about picking a market here as well as read through this article about markets with both appreciation and cash flow here

First lesson - keep the end in mind. So, my end goal is to replace some of my current income. Ideally, want to replace all of my income, but I'll start small. Therefore, I think I'll be placing heavier emphasis on cash flow markets. That way I can also build more capital to invest elsewhere. However, I would still like to either maintain or get some appreciation on my investment. I want to invest around 50K, looking around for properties around $250k.

Second lesson - look at market data. I'm always trying to find good data. I really like the  appreciation vs. cash flow article here, but also not sure where to look for things like where businesses are moving to and types of jobs in the area written in the same way as that article. For example, when I google, I often find those types of "Top 10 cities" without knowing where the data is coming from, what the methodology is, and what parameters are they looking at. These types of articles vary a lot. Am I being too data centric now? idk.

• Correct me if I'm wrong, I keep hearing about biggerpockets.com/insights on multiple videos and podcasts - and I thought it was a database of information you can sift through, sort, etc. similar to the excel sheet in the appreciation  vs. cash flow, but now that I've searched through the site it's just BP PRO blog articles?

Third lesson - where is your unfair advantage. Other than California, which I can't afford right now, the places I've been looking at and can afford...well, I don't know anyone in that area. So don't think I have an unfair advantage anywhere else. So I will have to go about calling property managers and real estate agents to get a better idea.

Now, everytime I watch a video, listen to podcast, read an article, look at instagram, etc. different cities attract my attention, and I can't seem to decide where to focus on. After a couple of analysis in one area, I often jump to another area completely different area then start feeling like I can't find anything.

These are cities that caught my attention since digesting all these real estate investment content.

North Carolina: Raleigh-Durham, Charlotte, High Point

• 1. For the universities and schools in the area as well the research triangle area for Apple's first East Coast campus.
• 2. High point for it's accessible entry point
  3. Also, the gains I've seen here https://www.howmoneywalks.com/... 

Tennessee: Memphis, Knoxville

• 1. In a BP video, Memphis was noted for it's RTP of 1.04%, low tax rate, and "could generate 20% can on cash return" (though where they are getting these number, idk.)
• 2. However, a bit weary about Memphis because of how much $ is moving out of that city https://www.howmoneywalks.com/... same with the cities in Pennsylvania and Minnesota

Pennsylvania: Pittsburg, Philadelphia

• In the article I mentioned before early in my post, both cities seem to have a good balance of both appreciation and cashflow.

Minnesota: Minneapolis, St. Paul

• Because it also seems like an accessible entry point.
  

How long should I stick it out to find property in a specific area, before moving on to the next? I also understand looking at a city isn't just it, but that it's about neighborhoods, and sifting through the properties, talking to the real estate agents/property managers etc. I guess, how do I decide where to commit my research to before contacting all these people and sticking it out. I feel like my tendency to look at properties include the sun belt states (Tennessee, North Carolina, etc.) Is it because of all the research I'm doing or some bias?