Best area for CRE opportunity
Right now I’m a newer industrial broker in the LA area. Yeah you can make a lot of money, but i always wonder what it would be like to be in a newly up and coming market. 

I want to broker deals AND ACTUALLY BE ABLE TO OWN REAL ESTATE. 

What areas do you personally think would be the best places to move for opportunity? Why? 

Thanks
[{"id": "f0ncd1i", "text": "Geographically right??\n\nMust be outside CA haha. If you're in LA then certainly consider the Vegas MSA due to NV's pro business advantages. AZ is a great one as well, it is very dev friendly and is relatively inexpensive. I bought a my first mf property in Scottsdale about a year ago and am very happy with things so far. \n\nI'm a broker in the Bay Area so I get where you're coming from.", "replies": [{"id": "f0ni5qt", "text": "Can you tell me more about how you\u2019re investing out of state?\nI don\u2019t have any property yet. I could get together about 300k to put down on an investment property, but it would have to cash flow out of the gate. We just can\u2019t make sense of anything over here it\u2019s stupid.", "replies": [{"id": "f0nl8ok", "text": "My fiance and i got together about $300k as well and went 30% down on 14 units. It was kind of a shithole but we wanted to go for that aggressive, opportunistic strategy. We've been cashflow positive out of the gate and are only doing one unit at a time as they turn and have renovated 9 units so far. We're getting about $240-premium/unit. We only net about $600/month, but we've got roughly $600k just from appreciation. We just haven't found anything else worth taking that cash out and don't really expect our rent increases to go away anytime soon. Again, just our personal opinion on that respective market. \n\nIf you're trying to stick with industrial, try to have small spaces and multiple tenants with scattered, short term leases. Under market lease rates are always great of course. \n\nLong story long - Create an LLC or LLP in that state just to make life easy. NV and AZ are both very easy and can be created online in a few minutes. The ownership entity will need at least a PO Box in that state to collect checks; even if it's just forwarded to you in LA. BUT, If that money comes into CA, it will be subject to our state income tax. \n\nOpportunities everywhere are certainly far and few between right now so don't force it. We underwrote about 200 properties before we found ours.", "replies": [{"id": "f0ntaht", "text": "Were you nervous about going in to somewhere without boots on the ground? How did you find a good property manager? Do you have to fly out there a lot?", "replies": [{"id": "f0nwkm3", "text": "We were really confident in our numbers just from my experience in mf and we're really happy we waited for the right project to come along. We just kept the PM company that had been with the property because they were pretty reasonably priced. \n\nWe flew out for a few days for inspections and to get gc bids and have only been back one time just because we were out there for something else and stopped by.", "replies": [], "depth": 5}], "depth": 4}, {"id": "f0nygz3", "text": "Hi. If you don\u2019t mind, I have a couple questions. So,  2,4% cash on cash return? What is the term of your loan?  Did you have to provide a personal guaranty? Would your deal be considered a good investment deal in that market or is your goal to fix and flip?", "replies": [{"id": "f0p9bgc", "text": "We\u2019re at about 6%ish right now and will hopefully turn the last few units by January so that should go up a bit as we raise the rents. \n\nWe have a ten year loan, amortized over thirty years with the balloon payment due at the end. No pre payment penalty after three years. \n\nI would consider it a \u201cgood\u201d investment just because of how competitive things are. It\u2019s not gonna be our retirement or anything though haha we plan on probably a four year hold then to trade up but we would like to purchase at least one project per year ideally.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f0nf520", "text": "Forget the area, it's all about timing son! Seriously though, stick to the Industrial basics...good clear height, roll-up &amp; dock doors, great or best freeway access in your area and also business-friendly taxes (maybe opportunity zones). \n\nBest of luck, I started pounding the pavement 15 years ago and I would say to hone and practice that skill this day...get in the office before anyone and learn from the Sr. Guys. Also, remember to stay hungry and humble.", "replies": [], "depth": 1}, {"id": "f0ns7nl", "text": "North Texas, Chicago, and Atlanta are all good options. Relatively large industrial markets with reasonable costs of living.", "replies": [], "depth": 1}, {"id": "f0o20zx", "text": "Save your cash.  Buy low sell high.  Wait for the pricing corrections and then be ready to pick up the pieces from deals that were bought wrong and need to be bailed out.  Doesn\u2019t matter what market you\u2019re in...the industry will reward you with opportunities in any market if you know what to look for and when to act on a deal.  Good luck.", "replies": [{"id": "f0oppbo", "text": "This is a good way to acquire 100 doors over 4 years vs. acquiring 1000 doors over 4 years. \n\nStop looking for 8 caps so you can brag about how you got such a good deal. Go win the business.", "replies": [{"id": "f1x12gv", "text": "Is 1000 doors in four yrs realistically possible for noob? Serious question btw", "replies": [{"id": "f8ay6ix", "text": "Sorry for just now answering. I\u2019m a lender. My second biggest client has acquired $180M in 3 years. It\u2019s definitely possible. But he\u2019s dedicated every waking hour to it.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f0oba7a", "text": "If you can find the right deals in Detroit they are gold but getting harder and harder to find", "replies": [], "depth": 1}, {"id": "f2ufnlo", "text": "Grand Rapids", "replies": [], "depth": 1}]