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Updated over 2 years ago,
OOS Investment -- which city in midwest should I start with?
Hi all! I'm new to the forum and just starting to look into OOS investing.
My husband and I live in Los Angeles. We are looking for high cash flow areas with the potential to grow steadily (not depreciate at least, hopefully, a stable market for long-term growth over time) I'm narrowing down cities to Indianapolis, OH cities Columbus, Cincinnati, and Cleveland. Other areas that draw my interest are: San Antonio, Huntsville, Pittsburgh, and Philadelphia.
As you can see it's all around...we don't have any local connections to these specific markets; studying all different cities and choosing our next move market is overwhelming... I would appreciate any advice you could provide! :)
As for OH, Cleveland's housing price is the lowest and generates the highest cash flow. It's very appealing, but it doesn't have much appreciation. It makes me wonder if we should sacrifice some cash flow but choose Columbus/Cincinnati for both cash flow and appreciation potential.
Also, it seems that Ohio's property tax is quite high. For this reason, is Indianapolis a better choice?
Any reason we should choose Indianapolis over Ohio? It gets mentioned a lot, and I looked into the market really like it as well. :)
I'm very interested in Texas, but its property tax is so high. Regarding cash flow, San Antonio seems to make more sense than other cities, but in general, should we just go to texas for appreciation purposes? For cash flow, should we still consider San Antonio or only look into the midwest?
Any opinions on Pittsburg? I'm only interested because it's a college town. Is it too slow for long-term holding tho? I have seen a huge population decrease over the past decades.
My goal is to choose a market that is good for both long-term buy and hold strategy with good cash flow, also I'm considering working on fixer-upper deals and Brrrr in that market; adding this into the consideration, plus the extremely high-interest rate right now...which is a good market to enter? Many thanks for any of your input, fellow investors!