Please help: Where are the best places to buy a house for investment right now?

Question

We live in southern California but the housing here is still quite unaffordable. We are thinking about investing a house in another state. Because we're not going to live there, it doesn't really matter too much where it is. Instead, it is more important that the price appreciation is gonna be good in the next few years. (Is CA still a good place to buy a house nevertheless in this case?) Could experts help me out or give me related websites where I can find more information? Thank you¬

Answer 1

Charlotte North Carolina. Im an agent in San Diego and we are moving a few client's money there. Stable rents, low price point, quality product, and upside potential. PLUS you can cashflow with a reasonable down payment!

Answer 2

Southern California or anywhere on the east coast or the west coast is the most expensive. The best places to invest or the cheepest is Right down through the middle. Prefer the south because it is the least expensive and if you plan on retiring there it is a warmer area. With Kansas and Oklahoma leading as the least expensive areas and some places in Texas as even better.
Arkansas and Louisianna are not far behind and in some cases cheeper. North and South Dakota are very inexpensive but up keep can be very expensive and turn around is not to good.
If you want to buy in hopes of making a profit. Investors are plagued with high heating costs and busting pipes.
Actually if I was going to invest it would be Tulsa. It has some great buys and it is spread out and there is good hospitals and colleges and jobs.
The best way to shop for houses is in Yahoo. Go to the left side of the home page and click on real estate. Then type in the amount you have to spend and find out what you can get where for that amount of money. It is a real eye opener.
For 257,000. In Fresno CA you get a small 2 bdrm 1 bath cottage. On a small lot in a older neighborhood.
In McAlester OK right now we have a 20 acre ranch that backs up to government land and huge brick 4 bedroom 3 bath ranch style almost 3000 sq ft luxury house. So you would never have a neighbor and it is all woods and ponds. A real paradise.
Just click into real estate and see for yourself even furnishes pictures. One lady was amazed when she clicked into a small town in Texas, that her dump in California bought an estate in small town Texas.

Answer 3

The solar Belt and the West Coast are the terrific places for investment. inhabitants will enhance force expenditures up and those 2 factors are the place substantial inhabitants will enhance have been happening in the final 5 yrs. Watch heavily via fact the infant Boomers ( a million/3 of the U.S. artwork stress) is commencing off to retire, and that they want someplace heat and sunny the place it does not snow in the iciness, to stay. the babies have grown and left residing house, they now no longer have a activity, so no longer something ties them to the chilly, snowy mid west and north east from now on. a substantial inhabitants shift is commencing off to take place. The inhabitants has already began to drop in the midwestern states and north eastern states. actual assets expenditures in those 2 factors will come down in the subsequent ten years. No area is different than from cost fluctuations, so which you ought to look at making a benefit over a era of years.

Answer 4

The thing you have to remember, as a California investor, that many of these states have not had their own "Proposition 13", so property taxes are VERY high, and are reassesed regularly.
So even if a property is cheap, the taxes may kill you.
They're not locked in like they are here in Calif.
Texas being a good example.
My brother bought a great 3 bedroom house there for $125,000, and the property taxes are about $3,400 a year!
And they will go up!

Answer 5

Just realize that whatever "hot" market you invest in, investors have already been there. In other words it is a supply/demand problem and investors tend to boost prices in heated markets.

I am fortunate to live and invest in a very stable area. We don't have the crazy valuations such as Florida, California, and NY, but then again we don't have the potential to crash as hard either. So careful what you wish for!

Finally, please read, read, read! There is a lot to learn about real estate before you jump into the water blindly. Plenty of people have lost their shirts in real estate. Obviously, I am a big fan of real estate over other investments... just conservative.

Best of luck.

Answer 6

I think that it depends on your reasoning for investing in real estate. Are you looking to purchase for the purpose of selling at a profit in a few years or are you buying for rental income purposes?
If it's for rental income, look to tourist areas, historical towns and college towns. You'll find that the properties are cheaper (often $30,000-$60,000) compared to larger cities.
If your reasoning's are for quick appreciation, look into the New England states such as Rhode Island, Vermont, Connecticut and Massachusetts.
Also, Florida is always a good choice.
Good luck to you!

Answer 7

I would say new york , I dont think you could lose on that in new york people are going there in bulk every single day whether it is to rent or buy.

Answer 8

Please contact me and I will plug you in to the market of TEXAS! Its very affordable and easy to get started. I am a Loan Officer for Soutwest Funding in Dallas and we are looking for Investors. I hope to be of service to you.

Sincerely,

JD