Where is a good city or state to buy cheap real estate for investment?

Question

where its going to grow fast..

Answer 1

It depends where you're from, as cheap can be very subjective. But I'm from Los Angeles, so prices in Texas seem to be cheap and the there's a lot of growth out there as well.

I personally know quite a few people who have recently purchased property in Texas because it's so affordable compared with other metros in the US.

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Answer 2

I'm answering this quetion because I don't want you to make a bad decision based on the two other answers suggesting Texas. My family has been investing in real estate for several decades, and we avoid Texas. It simply has too much land available for prices to appreciate. If prices climb, there is nothing to stop a developer from building 1000s of new homes, thus flooding the market and driving down prices. Thus, for a sure gain, you need an area that is geographically constricted to limit future development. Cities around water, or in a valley, fit this description. The south should grow fast as baby boomers retire, so look for a geographically restricted city in that region. Charleston, S.C. comes immediately to mind (I live in LA- I have no incentive to suggest this city, unlike a realtor trying to pump their home turf)

Answer 3

Texas is continually known because the perfect position to make investments in genuine resources. cost have slightly dropped in some parts and in different are nonetheless slowly mountain climbing. Even more advantageous suited in maximum Texas markets you could purchase houses way lower than the present market. the most excellent great element about making an investment in Texas is that if offered wisely (some thing it truly is elementary to do right here) you funding will money bypass from month a million. i'm a real resources investor interior the Houston section and could not even look at a resources except that is 30% lower than market, It elements a minimum of a 15% money on money go back each and each month and that i will at a minimum great element about fairness at double my entire money funding.

Answer 4

For right now, not San Antonio.... Too many investors already bought here and falsely drove the purchase prices up and the rental prices down. I meet investors from California regularly who bought houses here, with mortgages of $1,500 to $1,800 that can be rented for $900 to $1,100. To me, that's not a good investment. I expect 2007's appreciation to be very small in San Antonio as the market "corrects". We have traditionally gotten about 3 to 5% per year appreciation. Not big, but consistent. With all the investors flooding the market this past year, prices went up 15% almost all across the county. I think that has to "correct" now. Now, we have a glut of vacant rental houses - lots of them just built, and never been lived in. People with bad credit can now rent a new home for $400 to $700 less than what someone with good credit could be paying in a mortgage!!!

Answer 5

mckinney texas. lots of growth and plenty of opportunity