Anyone into investing in rental properties? What's a best place to invest? Emerging markets, like Austin/Dallas or vacation rentals in Hawaii, Florida, etc?
Year round destinations are the best. Either VRBO / Home Away or AirBnB. Either go big, high end (high rate, low occupancy) or common (high occupancy, low rate). Know the seasonality and optimize for it (school vacations, local events, holidays, etc). For prime weeks we charge almost 4X with a one week minimum and specific check in / out dates. Hire a good management company. Location matters more than just about anything else. Amenities are 2nd (indoor parking during ski season will double your occupancy - at least). Require renters insurance - it's pretty cheap. High occupancy is higher maintenance. Have a maintenance company that can fix things "on the turn".
Biggerpockets.com is the place you wanna go to for this kind of stuff. Holy grail of real estate investment community and advice.
downtown Detroit has major opportunities right now. The whole metro area is rising and the millennial crowd is moving downtown. The riverfront is back too.
Big 10 College towns too. Guaranteed income, charge 12 months rent in an 8-9 month period.
If you can find student housing, it's a gold mine. Everything I've seen is over priced. You do have to deal with more wear and tear but mommy and daddy are often excellent credit risks.
Tech booms are good place to rent if you timed it early enough. Otherwise financial hubs or family vacation spots work too.