Best places to invest for a rental property
264 Replies
- Posts 49
- Votes 118
from Los Angeles
posted 11 days ago
Xổ số vuông hôm nayHi Everyone!
I’m looking to invest in my first rental property this year. I wanted to know what places are the best to invest, to buy a 2 unit property not exceeding $400,000. Any specific states, counties and cities recommendations will be a lot of help!
- Posts 13
- Votes 60
Real Estate Agent from Memphis, TN
replied 11 days ago
Xổ số vuông hôm nayHey man, I know that I'm biased because I live in Memphis. But Memphis is a good start because of the cash flow.
- Posts 49
- Votes 118
from Los Angeles
replied 11 days ago
Xổ số vuông hôm nay thank you for the recommendation! Any particular parts of Memphis?
Analyze Deals, Team, and Residential
- Posts 68
- Votes 116
Real Estate Agent from Philadelphia
replied 11 days ago
Xổ số vuông hôm nay Just like , I'm biased as well haha. The Philadelphia suburbs are a great place to pick up a multifamily for under $400K with strong cap rates. In fact, I just sold a well-maintained off-market 9-unit in the nice part of Norristown, PA for $450K. A place like that would bring $8,300/month in gross rent easily. Recently, duplexes in B level neighborhoods have sold just above $200K with $3,000 in gross rent. It's worth checking out.
Xổ số vuông hôm nayPA is a tenant-friendly state, yet investing outside the city isn't too risky. Evictions have happened recently in Delaware County and Montgomery County PA within 60 days.
- Posts 38
- Votes 38
Realtor from Memphis, TN
replied 11 days ago
Xổ số vuông hôm nay I second Kenneth on Memphis. I also invest in Little Rock as well which is a very similar market. Both markets are landlord friendly and low property taxes. You should get good cash flow numbers in both. Good Luck!