With Norfolk Naval Base, EVMS and ODU, rentals are always in demand.

If you dream of owning on the Coast be very cautious of regulations against STRs, most communities are not STR friendly and some towns have revoked STR permits (lawsuits galore on that), so talk with an Oregon Coast based agent who KNOWS STRs or you could end up with an investment you can't rent and just have to wait out all the expenses of ownership until the appreciation kicks in.

In fact, I wouldn't consider myself an expert, but I've been investing in midwest markets (Memphis and Detroit) since late 2020 and I'd be happy to answer any questions, give advice based on my experience, or connect you with teams I've worked with.

Regardless if a price of a property is high, I learned that sellers are humans and they will react and sell a property based on how they feel.

They can take out enough for a down payment for the next house and a little extra to put into savings as a "What if" fund maybe 3-6 months PITI based on the new home payment.

The 5 year proforma by DEFINITION is based on a whole slew of assumptions about a whole host of issues in the future - national economy, local economy, interest rates, cap rates, rental rates, political and geo-political factors.

If you like a market, just get a base hit deal there and start spending time at the property getting to know the house, the market, and local vendors.

On the other hand, I invested in other areas, Humboldt Park, Pilsen, etc. which I thought would appreciate, and did not - or would take much longer to do so.The problem is I have had a hard time being honest with myself, and basing my decisions on wishful thinking, not cold hard facts. 

We thought it was an ideal house to STR - and it would have been just based on the location, and perhaps the experience of staying in an old home.

Does anyone have good experience with cold callers and where they're based out of?