Originally posted by @Lindsay Davis:
Outside of massive regulatory interference- like you get in a city like Portland, OR, or Berkeley, CA, you can make good money in most markets- and to be fair- there are plenty of people making money in those markets as well. It really comes down to your risk tolerance, ability to spot individual deals, and your investment goals- are you looking for cashflow or a quick flip?
How much are you planning to invest? Of that how much is financed? What’s your desired level of involvement- i.e. are you looking for turnkey properties that save time and provide steady cashflow or are you looking for a property that needs more involvement?
I’d say stop searching for “the perfect market” and try and find the perfect team. With that being said, we like several regions in the south- offering diverse employment bases, growing populations, and relatively low entry costs. You should also consider looking at areas with new construction activity, as other developers/builders/real estate stakeholders have done the research for you- and found that they’re likely to make a profit in a given area.
I’d read more about Tuscaloosa, Birmingham, and Huntsville- but really the entire South/Southeast meets your criteria- you just need to find the right property!
I second this right here.
There were markets I found that had decent properties with decent numbers, but when I went to try and identify my team in that market, they all fell short. This led me to being uncomfortable in investing in that market.
From your list of markets that you identified, try calling property managers around in that area and see which ones you click with and find yourself working with.
I was in the same shoes as you a few months ago, where I would just be trying to identify the best market, but as I started calling around, I found the perfect property manager to work with and this led me to identifying a contractor who can help me with repairs and rehabs on properties as well.
