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All Forum Posts by: Pinaki M.

Pinaki M. has started 10 posts and replied 36 times.

Post: Please suggest some good rental markets

Pinaki M.Posted
  • Little Rock, AR
  • Posts 36
  • Votes 12

@Norberto Villanueva Thanks for the info!

Post: Please suggest some good rental markets

Pinaki M.Posted
  • Little Rock, AR
  • Posts 36
  • Votes 12

@Kyle McCorkel But then it becomes an out of state investment, something I am probably trying to avoid. How much do ROI or cash flow do people typically make on such investments (considering a big chunk goes after property management expenses)? I would like to know some real numbers.

Post: Please suggest some good rental markets

Pinaki M.Posted
  • Little Rock, AR
  • Posts 36
  • Votes 12

@Alex Franks Thanks for your reply and bringing up some good points. Can you give me the list of the 15 states/places you mentioned about? That will be helpful as a starting point.

As to what I want to accomplish, I can't think too far ahead at this point (with no experience at all in this area), but I can tell you of the possible scenario I have in mind for the more near future. Let's say I want to invest under $200,000 for a 4-plex that generates about $3000 in rent per month. After maybe a couple of years, I want to buy another 4-plex generating similar income. If things are going well at that point, I can make bigger plans, but for now this is the farthest I can think of :)

Post: Please suggest some good rental markets

Pinaki M.Posted
  • Little Rock, AR
  • Posts 36
  • Votes 12

@Al Williamson Al, thanks for your reply. You brought up a very good point. I asked for "best markets anywhere in the country" more as a starting point. Of course, I do have some personal preferences as to where I do or do not want to live, but then I am a bit flexible too. For example, I have been really wanting to live in Oregon (or the northwest in general, which would also include Montana or Idaho), but the RE markets there don't seem very conducive for cash flow (especially Oregon). Whereas places in the midwest like Indianapolis or Kansas City (I see these two names constantly come up in BP forum discussions along with some others in the same region) would not have been my first choice to live at, but if they are much better prospects for making money, I could consider moving there. I hope you get the idea. One of the places I have always liked is Colorado, and Colorado Springs is one of the top contenders in my list (perhaps Fort Collins too, but prices are already very high in FC and it's relatively smaller, so CS probably wins over FC). 

Thanks again for your thoughtful post. This brings up the questions I was going to ask anyway:

1. How is the market in Colorado Springs? I see the prices are still relatively lower than other cities in Colorado. Do anybody on this forum invest in CS? What is the cash flow like?

2. In general, I would prefer a place with some natural beauty (like hills, green, etc.) and with an open-minded, educated and somewhat diverse population (doesn't have to be nearly as diverse as California or New York or Chicago, just to clarify), and that still doesn't feel like a big city and is not too crowded. So if anybody has any suggestions on which places will be a good fit, please do let me know. And yeah, it needs have a decent cash flow for rentals too :)

Post: Please suggest some good rental markets

Pinaki M.Posted
  • Little Rock, AR
  • Posts 36
  • Votes 12

@Simen Gundersen Thanks. I will look into Indianapolis. Feel free to PM me if you have more info to share. I will do the same. Good luck with your research. Enjoy the summer in beautiful Norway :)

Post: Please suggest some good rental markets

Pinaki M.Posted
  • Little Rock, AR
  • Posts 36
  • Votes 12

I just joined this site. I am a complete newbie and I'm a few chapters into "The Book on Rental Property Investing" by Brandon Turner. My goal is to buy some properties and rent them out for cash flow. Now the problem is, I live in the San Jose, CA area where the current prices are out of my reach. Recently I have been told that for my current job, I am allowed to work remotely from anywhere in the county. This opens up a lot of possibilities. I have been thinking of moving out of California to another state where I can get better ROI than CA. My plan is to move to this place, buy a property or two and manage them myself.

So my question is, what cities/town/states should I consider where I can get a decent ROI? For starters, let's assume that I am open to moving anywhere in the country where prices are relatively cheap and where I can get good returns.

All suggestions and advices will be greatly appreciated. Please help me out. Thanks!