What city/location do you recommend for buying rental property?

Question

any reasons to justify your choice?

Yeah I cant afford to buy a house in California or within an hour of where I live, I live in the San Francisco Bay Area. Forget about it.

Rainy, I was thinking about Houston, can you turn your comments on so I can contact you or you can contact me on my comments =) I've been trying to learn more about the houston market. Housing there is right in my price range, but I don't know how the rental market is.. up? down? tepid? wheres a place that local houstonites go to look for rentals? I tried craigslist but I think only people in SF use craigslist =)

Answer 1

Lima Ohio. Property values are way down due to the Oil industries and the auto manufactures. We are about to get a new ethanol plant and they are going to renovate the oil refinery here. And I am pretty sure there is another alteternative fuel factory going in here too. Plus our meidical centers are growing by leaps and bounds. The job market should pick up soon and property vaules should improve.

Did IO mention taht we have a growing branch of Ohio U here and a growing branch of Notrh Western that pulls in peopl from severl states. Plus we have a really great vocatoinal school.

Look Lima Ohio up on line check out what is has to offer and check out the property values. Many of our realtors are online.

King latino huh? Well we also have a WONDERFUL mexican restaruant. Not ChiChis or any of that a real food restaurant. Our Spanish speaking populatin is growing as well as our middle eastern population.

I had reantals here for about 20 years. They have cahgned the laws not to where you can get a dead beat out in right at 6 weeks!

Answer 2

2

Answer 3

My only experience is with rental properties in a college town... I wish I was big enough to know the market in Houston or anywhere.

I also got a little help from Hurricane Katrina in this area...

I think you can find something in any market if you look hard enough and are patient. I would recommend living within 50 miles of the property so you can check on it more often... the first few years are the lean years and a property manager will cut even deeper into you profits.

Answer 4

Best places to live, according to one recent survey:

1. Hot Springs, Ark.
2. Winston-Salem, N. C.
3. Fayetteville, Ark.
4. Bowling Green, Ky.
5. Lawrence, Kan.
6. Columbia, Mo.
7. Pittsburgh, Pa.
8. Gainesville, Fla.
9. San Antonio, Texas
10. Colorado Springs, Colo.

On the one hand, spiraling real estate prices make people afraid they'll be priced out of the market if they don't buy soon. On the other hand, renting is a relative bargain in many high-cost areas, and a growing chorus of economists warns us about the possibility of housing bubbles in many markets.

If you’re facing this nerve-racking decision, you need facts, not myths.

It's a fact that homeownership is a great way for most people to build wealth over time. But that doesn’t mean everyone should be a homeowner. It’s a bigger commitment and more expensive than most first-time buyers ever realize. You should have a clear idea of what you’re getting into before you commit to 30 years of payments.

HANK (Josh)

Answer 5

Within 1 hour of where you live. Reason being is that you will need to service your rental meaning that you should collect your rent. See the condition of the property from time to time. Make repairs to the property or get someone to do so. If you live to far you will not be able to take care of your investment. Hiring someone to do this for you will just reduce your profit.

Answer 6

the Northwestern suburbs of Houston, this is a very desirable area, my husband and I rent out our 1st home it's a 2 bed room 800 square foot home and we get 850.00 per mo(in the 12 years we've rented it we have never had it vacant for more than a couple of days while we cleaned or repaired before we allowed move in) We have three people on a waiting list if we ever loose our current renter. Our Friend has multiple homes he rents in this area ranging from 1100.0 per mo. to 4000.00 per mo. He also has people on a list for his properties. Our school district is really great.

Answer 7

A few months ago I would have said Reno or Las Vegas, Nevada because it was the fastest growing state. However, according to the census....Arizona is the fastest growing state now so buying rental property in that state would probably be more beneficial for you.

Answer 8

Also, do not overlook college towns.

The rental potential is very good, especially if you can establish leases in the rental contract that coincides with the fall / spring semester...

Answer 9

Any place with an industrial base. Renters are USUALLY blue-collar workers, and the good ones can pay rent regularly, so they have a job good enough to survive but not good enough to buy.

Answer 10

Rent To Own Homes - http://RentToOwnHome.uzaev.com/?Isvm