Most investors start their careers by purchasing homes and properties in nearby cities. Later, as they gain experience and learn more about the best ways to profit, they inevitably expand into other parts of the country. Below are some of the best cities in the nation to consider if you want to broaden your investments and boost your profitability.
Boulder is a well-known city, but believe it or not, it has a relatively small population of right at 100,000 people. Despite its outstanding arts scene and access to some of the most popular tourist cities in the country, it still offers that small hometown vibe that Americans love. What’s more, it’s also widely regarded as one of the most LGBTIQ+ supportive and friendly cities in the US, and because of this, Boulder has a comparatively young population. Thanks to its popularity, Boulder is rather crowded, so there’s just not enough housing for everyone. Consider branching out into multifamily properties here to capitalize on the city’s popularity.
Greenville, South Carolina
Greenville is another relatively small city located in the Northwestern part of South Carolina. Though its population of 70,000 may seem small, it’s important to remember that it is part of a massive 900,000-person metro area that is experiencing a ton of growth. Aside from tourism, there’s plenty of new permanent business and development happening all around the Greenville area, and it’s starting to make its way into the city limits. It’s a great place for your next fix-and-flip project, and it may even be ideal for community development projects, too.
You’ve probably heard quite a bit about Montgomery in the last couple years, and with all the changes taking place in this historical city, it has certainly earned its newfound reputation for economic innovation. The city’s downtown area has been brought back to life, and thanks to the implementation of a “smart district,” Montgomery has attracted some of the world’s biggest and most well-known brands. As jobs continue to pour into Montgomery, so too will people who are interested in working those jobs. Now is a great time to invest in one or more homes in the area, whether you plan to rent them or flip them.
Providence, Rhode Island
Providence is a beautiful city with a small population of about 180,000 people. For years, it has lived in the shadows of its neighbor to the north – Boston. Though people have passed through Providence for decades, no one really took notice until recently. A renowned magazine, Travel & Leisure, referred to Providence as a dining mecca with plenty of cultural diversity. The city is also attracting some serious big business, and with that business comes new jobs. Again, investing in multifamily properties, single-family homes, or even commercial properties is very likely to be profitable in Providence.