Looking for cash flowing cities

[Rob Burns]

Hi everyone, 

I'm an investor in Florida and have also purchased in New York, however our market is getting too pricey to get good cash flow. I'm looking for ideas for other cities that have a stable blue collar work force, low unemployment, low crime and get a cash on cash return of ~15%. Perhaps in the mid west? I'm not looking to chase the hot new trendy city, just a stable long term rental market. Let me know what you have found would work. 

Oh and I like 2-4 unit properties but would look at up to 10 units in the right market.

Thanks in advance ,

Rob

[John Jacobus]

@Rob Burns Marcus & Millichap's 2017 Multifamily Investment Forecast provides a list of high yield markets that may interest you. Cleveland, Cincinati, Columbus, Kansas City, Indianapolis and Jacksonville are on the list. In addition to listing high yield markets, the research report outlines low vacancy markets, total return markets, affordable markets (% of rents relative to income), and other key measures affecting prices and rent growth, including unemoloyment, job growth, unit absorption, and population growth.  You won't find small towns in the list but you will see the key primary and secondary markets.  It's a good starting point from which you can conduct further research.  

The materials below are free after you create an account. M&M produces quality research and offers much more than the report below. I recommend subscribing to their research publications.

http://www.marcusmillichap.com/research/researchreports/reports/2017/01/17/multifamily-investment-forecast