3 Growing Markets to Watch for Investment Opportunities
As an investor, I’m always on the lookout for emerging markets. Digging your heels into one place and refusing to explore new markets is just silly – and kinda dumb! When you do this, you’re basically robbing yourself of a potentially fantastic opportunity!
Kansas City has been my go-to market for a few years now, but recently I’ve begun working in Dayton, OH. It’s a phenomenal market, poised for huge growth. It’s not the only one, though. There are 2 others I’m really excited about right now, both showing very promising signs for investors.
Before we talk about the 2 brand new markets I’m looking at, I want to introduce you to Dayton. I’ve been buying properties in this market for my turnkey clients for several months now, and I have to say that the profit potential here is very real. Dayton has a lot going for it in terms of population growth and employment opportunities. Some of the main takeaways to consider with this market are:
- People are moving here, especially as urban sprawl puts the metro area closer to Cincinnati.
- Neighborhoods all across the city are being revitalized.
- Low cost of living makes it attractive for both investors and renters.
- Rapid job growth in major industries like manufacturing and technology.
Seriously guys, Dayton is where it’s at!
Know where else it’s at? Little Rock. That’s right, Arkansas. No, this southern state may not be the first place that comes to mind when you’re thinking of rental property, but Little Rock is quickly gaining traction as an investment hotspot. Why? Because it’s affordable, home appreciation is finally up, and the local economy is healthy and growing. Little Rock offers some of the most affordable rental housing for tenants, and the buy-in for investors isn’t too bad, either. Median home prices are right around $140,000, and distressed properties can be bought for about half of that, on average. This makes it a great choice for investors who are interested in flips as well as those who plan to use a buy-and-hold strategy. More positives: the city was recently voted as one of the cleanest cities in America by Forbes and there are lots of diverse employment opportunities too!
Ah, Sin City….a town known for its gambling, drinking, 24/7 parties, and tons of other vices. But do you know what the real sin is here? Not exploring this city for its investment opportunities! Las Vegas is still on the rebound from the recession, so houses are still affordable – in fact, many are seriously undervalued, even by as much as 40%. 2017 rental rates stand at an average of around $1,000 per month, which is an increase over last year, and in this town, you also have greater options for vacation rentals as it is a tourist destination. Vacation rentals aren’t usually something I advocate for, but when you’re looking at double or even triple the average rental rate, it would be stupid to not even consider it.
Each of these markets offers amazing potential for investors looking to break in before they heat up too much and all the deals are gone. Don’t wait to start researching these cities for your next investment!