I am looking to expand outside of my home turf in Oregon. I have done well in Oregon, but the climate is less favorable for investors than in years past. Rents have increased and cap rates have dropped, but there are more regulations, restrictions and expenses in recent years.
I am looking for an area with a growing population, diverse growing economy, and valuations less overheated than those at home.
Lexington, KY meets these requirements and is within reasonable air travel time. I am also considering nearby locales such as Louisville and Cincinnati. Because I am new to out of state investment, I want to avoid properties that will require large capital improvements. Also the property needs to be large enough to support an onsite manager (but I am flexible on this point).
