Mar 7 • General discussion
Determining Your Market
If you can't make the numbers work in your home state, how do you find a market outside of your home state that works?
For me my target market was based on my goals. I wanted maximum cash flow, tax incentives and landlord friendly. This pushed me to find the strategy first. Then the state with large expanding population, lower property taxes, insurance and plenty of jobs that would support the co-living strategy. Arizona, Texas and Florida were among the top states, but Arizona had lower taxes and insurance so I am investing in the Phoenix Metro.
rough take aways
Determine your goal(s). Which strategy fits those goals in the time frame you desire. Examine the area(s) that fit. Contact others doing that strategy in that market. Mitigate as much as you can based on what you learn, for me it was 5 months. Then once you feel fairly confident and have bounced the area and house(s) off of others that do your strategy in that market, buy a property and pilot that strategy and area.
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Determining Your Market
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