Best Markets for your Investments and What you Need to Consider
10 investment hotspots you should consider when looking for places to invest in:

* **Austin, Texas**
* **Durham, North Carolina**
* **Florida**
* **Lake Tahoe**
* **Las Vegas**
* **Miami**
* **New York**
* **Reno, Nevada**
* **Richmond, Virginia**
* **San Francisco**

Keep in mind that the **attractiveness and viability of these markets depend** on what type of investor you are, what budget you have, and how much risk you are willing to take on.

There are many considerations when trying to spot multifamily investment opportunities. One of the core tenets to remember in real estate investing is the importance of location. Where you buy your property dictates its market value, will impact its resell value, and your ROI.

**1. Follow Migration Trends: Tenants Look for More Space, and Crowded Spaces Become Less Attractive**

A report by Hire a Helper found that **San Francisco** and **New York** had 80% more people leave than move in, while Idaho saw nearly 200% more people move into the state than out. By city, **Scottsdale, Arizona**, topped the list of move-ins, with 68% more people moving in than leaving. This is followed by **Durham, North Carolina**, at 17% more move-ins.

Trending destinations also include **Boise, Idaho**, which is known as the city of trees. Its main industries include technology, advanced manufacturing, food production, and energy. **Richmond, Virginia**, is also trending, with an economy driven primarily by law, finance, and government. Virginia invested heavily in education, transportation, and healthcare, making it an inviting place to live. Other areas of note include **Santa Fe, New Mexico**; **Steamboat Springs, Colorado**; vacation spot **Fort Walton Beach, Florida**, known for its white sand and beaches; **Greenville, South Carolina**; **Indianapolis, Indiana**; **Park City, Utah**, and **Truckee, California,** according to Airbnb.

**2. Different Places Feel the Strain Differently: Look at market exposure and unemployment rates**

Due to the pandemic’s effect on the economy, tenants are falling behind on their payments and are seeking temporary or even long-term rent reductions. Certain industries have been more affected than others, and states and cities that have been traditionally reliant on sectors such as tourism and entertainment are feeling the burden.

It’s also important to look at the location’s potential and keep track of what’s being built, taken down, and repurposed. **Follow the money – this means you have to follow the jobs.** Not just where they are but where there will be more. Think back on the news about states competing to house a new Amazon headquarters or fulfillment center – this is because the presence of such companies can provide jobs, increase tax revenue, and jack up real estate prices.

**Reno** is a good place to look at properties since giants such as Amazon and Tesla have a presence there. The state of Nevada has a lot of potential because its officials have been working to diversify its economy. **Nevada offers perks such as no franchise tax, no corporate income tax, or personal income tax to make it more attractive to investors.** Since the pandemic began and more people can work remotely, the chance to relocate to less expensive cities has opened up, and more people are grabbing the opportunity to do just that.

**Austin, Texas**, is also an excellent spot to look into since it will **house one of Tesla’s gigafactories**. The company has pledged to create 5,000 jobs, said Austin Business Journal, and **dozens of companies are expected to crop up around the area to cater to the factory and its workers**. Companies such as **Hewlett Packard**, **Oracle**, and **DropBox** are also moving into the area, and prices of multifamily properties are expected to rise in response to these developments.

**3. Weigh the Wage and Cost of Living**

When looking at places to invest in, it’s essential to be aware of the average wage of the population in the area, relative to the cost of living. During the pandemic, this dictates how well the people can cope with payments and is a good measure for the area’s potential for future growth.
[{"id": "gva8gvv", "text": "As someone in Greenville, can confirm everything is booming here. We literally can't build houses fast enough to keep up with demand.", "replies": [{"id": "gvaabty", "text": "Should've add it on my list!", "replies": [], "depth": 2}, {"id": "gvebqg0", "text": "Myrtle Beach too!  It's a booming market", "replies": [{"id": "gvebwjm", "text": "Is it really? I always thought of it as a pretty seasonal town that was more or less dormant from Nov-Mar.", "replies": [{"id": "gvec7z9", "text": "Yes!  Its booming.  I see that lots of people from the north are moving here.  If I've heard one I've heard 100s of stories of people thinking they want to live in Florida until they get here.  It's not a seasonal as it used to be.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gvaa3ll", "text": "Lots of good stuff here. I agree with your assessment of most of these markets, but is there a reason that Denver did not make your top 10? I would argue that it has equal growth potential to places like Austin and better long-term viability. If you want a deeper look-[https://www.reddit.com/r/realestateinvesting/comments/mrmbn6/why\\_i\\_am\\_investing\\_in\\_the\\_colorado\\_front\\_range/](https://www.reddit.com/r/realestateinvesting/comments/mrmbn6/why_i_am_investing_in_the_colorado_front_range/)", "replies": [{"id": "gvaanr5", "text": "What you have here is insightful!", "replies": [], "depth": 2}], "depth": 1}, {"id": "gvafcxn", "text": "Meh", "replies": [], "depth": 1}, {"id": "gvayvoa", "text": "As someone in Richmond- please don\u2019t. I don\u2019t want to live in an overdeveloped hellscape and no place needs more bland multi family and mixed use developments with generic names like \u201cThe Mark at __.\u201d", "replies": [], "depth": 1}, {"id": "gvbpzun", "text": "Pittsburgh is booooming", "replies": [], "depth": 1}, {"id": "gvc0wwk", "text": "Come on gotta have Toledo on the list. Just ranked #1 for New Business Investment in the country.\n\n[https://toledo.oh.gov/news/2021/03/01/toledo-ranked-no-1-for-new-business-investment](https://toledo.oh.gov/news/2021/03/01/toledo-ranked-no-1-for-new-business-investment)", "replies": [], "depth": 1}]