All Forum Posts by: Anthony Caraballo

Hey Al, 

In order to know the best cities to invest in, first I'd suggest looking into where people are migrating too. When people relocate to another city & state in mass (as we have seen since 2020), it will tell us where we can find a high demand for housing, an increase in economic stimulation, a fast paced growth in property pricing, and higher rents.

According to a recent article in Forbes Magazine, the USPS change-of-address data tracks residential migration across the U.S. and below are the states with the highest number of moves. Overall, the data suggests that many are leaving large cities and chilly states for less congested areas and warmer climes. 

Top 10 States People are Leaving:

1. California 

2. New York 

3. Illinois 

4. Pennsylvania 

5. Massachusetts 

6. Washington 

7. Colorado 

8. Indiana 

9. Michigan

10. Wisconsin 

Top 10 States People Are Relocating to:

1. Texas

2. Florida 

3. South Carolina 

4. North Carolina 

5. Georgia 

6. Tennessee

7. Nevada

8. Maine

9. Delaware

10. Idaho

While I cannot speak for each specific markets around the US, I can say that in Southwest Florida (and Florida in general) the market is BOOMING. 

I am a Real Estate Agent in Naples, Florida. Currently, we are still seeing unprecedented demand for buyers with historically low inventory. Everyone wants to move here but no one wants to leave! 

When talking to our buyers, we've found that the main reasons for people relocating to Florida has to do with the politics of their current state, Florida's great tax benefits, and of course: quality of life. This comes in part from our favorable weather, granting our residents access to outdoor living all year round. Plus all the sunshine and sunny days are hard to resist!

In my opinion, and to answer your question more directly, the top 5 growing areas right now that I'll personally be keeping my eye on for investment opportunities:

1. South Florida (Miami, Fort Lauderdale, Naples, Fort Myers, Sarasota) 

2. Nashville, Tennessee

3. Texas (Dallas-Fort Worth, Houston, San Antonio, Austin)

4. The Carolina's (Myrtle Beach, Asheville, Charlotte)

5. Phoenix and Tucson, Arizona

Honorable mentions would be Huntsville, Alabama and Jacksonville, Florida.

I'd love to hear other peoples input on this as I find it an interesting subject.

Hey Aaron, 

I personally used Lifeproof LVP in my last reno for a higher end rental. I chose a light wood color and it has received so many compliments! It feels great, it's durable, and for this particular condo was not difficult to install. So far so good, and it required NO mud work which for me was a plus since i can easily replace down the road if needed.

Hope this helps!

Hey Michael, 

As a Real Estate Agent I have access to my local boards standard contracts, one being a lease agreement. I would suggest reaching out to your Realtor and see if they have any local lease contracts that they could share with you.

Additionally, Bigger Pockets offers their pro member standard lease agreements for each of the 50 states. It's my understanding these are written by their team of lawyers and might prove useful if you cannot find a local contract that is suitable.

Hope this helps!

Hey Al, 

I work in the SWFL Market, if you are ever looking to make a move down to the Naples Area I'd love to connect. Good luck on your next deal!

Hey Mike, 

I'm sure the inspection you are referencing is long gone but for future reference, a good way to find contractors in situations like this can be to use Bigger Pockets "Network" tab and search for contractors in your area.

Hope this helps.

Hi Amy, 

Having a rockstar Property Manager on your team is never a bad play. It'll be extremely advantageous for you to have someone boots on the ground who can take care of the property and truly help with building your PASSIVE income streams. 

I've personally managed properties both long distance and locally. Long distance ones never last because it becomes near impossible to manage effectively and efficiently. Not to mention the relationship you'd be building with a local who can aid you in finding more deals, taking care of your investment, and helping to expand your local team through their connections and resources. 

I'd say go with a local property manager 100%. Definitely worth the added expense. 

Hope this helps!

Sweet Unit! 

If you are ever looking to make a move into the SWFL market - I'd be happy to connect and chat! 

Hey Ryan! 

I am a local Real Estate Agent and I work directly with numerous investors in the greater Naples area. Happy to connect and chat!

@Charles Xia In your opinion what would be the best way to find out how much de-compartmentalizing the apartment by removing walls would affect the rent? By looking at other rentals in the area? Thanks.

@Evan Polaski thank you for your advice, like you said I think it's good to weigh out the time and cost vs return on your money in the long run. Also, What does IRR mean?