Quote from @Alex Craig:
Quote from @Jordan Ray:
Quote from @Dennis Li:
Quote from @Jordan Ray:
Quote from @Dennis Li:
Hi BP!
I'm new to real estate investment, and plan to invest in long term rental properties. I live in Los Angeles so I'm looking for out-of-state properties. Would really appreciate to suggestions on which area/market I can research on!
Here are some of my wishes:
1. Positive cashflow, ideally if more than $200 per door
2. Purchase price less than 250K
3. Landlord friendly
4. Locations with good potential for future job growth and non-fragile economy, diversified industry/business
5. Locations OTHER THAN Columbus/Dayton OH or OH in general (I'm checking the area now, but would like to know places in other states too:) )
I've looked at Tucson and Tempe but the price seems too high. Las Vegas maybe suitable, still researching...
Thank you very much for any suggestion! If any of my bullet points are not clear or too naive, please let me know!
You just described Memphis TN!
Thanks Jordan! Could you give a more concrete example on what kind of cash flow is possible in Memphis? Maybe from a deal you recently closed?
Almost every single deal I close either with a client or for myself has at least $200 -$500/month in cashflow. I will message you.
Jordon-- I invest in Memphis. Please send me a deal that gets me consistently $500 a month.
They come around from time to time Alex, the secret is to make a-lot of offers. I also have some in my own portfolio that cashflow $500/month. I did however specify in my previous comment a range of $200-$500.
$500/month is definitely the best of that range. If you are only analyzing properties based on the list price and the repairs that are needed and not making any offers that work for you.. you will never find a property that cashflows $500/month.
