Good Markets for Rental Properties

[Anonymous No.16467852]

I'm planning to buy an investment property this upcoming year and am most likely going to need to go out of state to do it. Ideally I'd like to buy 2-3 in the same market over the course of the next couple of years, but have them all be in the same city so I can use one property manager and have one set of contractors to simplify things.

What are some good markets that I should consider? A friend of mine bought an investment property in San Antonio, Texas, and she thinks this is a very good market, although I have heard that property taxes are high. However, it is supposedly very easy to evict delinquent tenants in Texas, which is obviously a plus. Good luck with that in California. Another market I have heard is good is Indianapolis.

Any thoughts? Also, what are some good metrics for valuing rental markets? I would imagine ultimately it's just a function of price to rental rates and projected population / economic growth, right?

[Anonymous No.16467931]

Best metric are cap rates.

Texas is a great location, and Nevada is good as well. Both have great appreciation.

You won’t like to hear this, but Detroit is criminally underrated. Yes, houses are dirt cheap but you can still make a great return after fixing them up. Some friends are making a killing and grabbing more houses there

[Anonymous No.16467949]

I cringe everytime I see that steak, absolutely terrible.

[Anonymous No.16467951]

Last thing I forgot. ALWAYS check a prospective tenant’s credit history. I don’t whether they’re the nicest people in the world or had the rug pulled under them - if their credit is crap you WILL be screwed.

Godspeed, anon

[Anonymous No.16467970]

bump also curious about this

[Anonymous No.16468826]

>>16467852
>Any thoughts? Also, what are some good metrics for valuing rental markets? I would imagine ultimately it's just a function of price to rental rates and projected population / economic growth, right?

TLDR
property management = profit

Follow the research from these companies and buy where they buy.
https://www.reit.com/what-reit/reit-sectors/residential-reits

Also listen to property management podcasts.

You probably want to hedge your real estate with some crypto and metals
https://www.armstrongeconomics.com/markets-by-sector/real_estate/mortgage-backed-securities-still-defaulting-bad-omen-for-real-estate/

real estate is going to experience a lot of problems going forward with rising taxes and interest rates.

Were you thinking of buying in Texas?