Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
I haven't seen much discussion on targeted real estate markets and I don't see this category on the forum. Rich's post caused me to wonder what RE markets everyone thinks are the best to invest in. Where are you investing and why?
What does everyone think of the Austin market? I am too close to the city to evaluate it without prejudice.
Real Estate Investor · Phoenix, AZ · Member since 2009 · 1k+ posts · 1k+ votes
16y
I think the best city is going to depend on what your investing strategy is. If you are buying at trustee sales, for example, you would want a city where prices had gone up a lot during the bubble and then collapsed. If you are a landlord, you would want a city that is expected to have significant job growth over time. Some mid-western cities also seem to be good for people who buy very cheap homes and then rent them for very good cash flows, although it is not clear what the long-term trends are for those cash flows.
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
16y
I keep an eye on the Colorado Springs, CO area along with the Tacoma, WA area. These areas happen to appeal to me as far as possibilities for expansion, growth and investment opportunity.
Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
16y
I'm not sure which post Bryan is referring to. I like all of Texas pretty much, due to the small rise in the big run up and low median prices of homes. It is easy to see which areas were popular before and they'll be popular again. Follow the sunshine as population ages, imo. I'm trying to buy in FL and building in TX. I must like those areas. We'll see. Rich.
Real Estate Agent · Grand Junction, CO · Member since 2008 · 68 posts · 35 votes
16y
Here is some thoughts on markets.
According to a presentation by Lawrence Yun, head economist for the National Association of Realtors, these are the top flourishing real-estate sectors in the United States:
Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
16y
Remember- the economist is a hired gun, chief economist for the national board of realtors. He knows all the tricks of making the negatives not look so bad and uses the word"may" to improve the apparent positives. I don't know of ANY other articles to back up his claim on the cities listed. Anyone else able to find these 5 at the top of any list? Rich
Real Estate Investor · Amarillo, TX · Member since 2008 · 547 posts · 214 votes
16y
I would agree with rich on alot of things, but especailly the fact that the whole texas market looks pretty good right now, I'd invest in almost any major (200k+ population) cities in Texas. I moved to Texas to invest, and currently invest in Amarillo, Tx, but have consitered most major cities in Texas. Id also say Buffalo and Columbus would be one of the cities on the BOTTOM of my list, while they may be cheap, i dont see them offering much more, many on these boards have made good money in these areas, but I wouldnt consiter them a good real estate market little alone one of the best. I'd also say the whole Phoenix Az Metro area would be one of the top markets right now with tons of CHEAP inventory. for once in along time you CAN CASH FLOW in these areas! I think Austin is an excellent area, and my investing is long term based...
-Scott
Real Estate Investor · Phoenix, AZ · Member since 2009 · 1k+ posts · 1k+ votes
16y
I think the best city is going to depend on what your investing strategy is. If you are buying at trustee sales, for example, you would want a city where prices had gone up a lot during the bubble and then collapsed. If you are a landlord, you would want a city that is expected to have significant job growth over time. Some mid-western cities also seem to be good for people who buy very cheap homes and then rent them for very good cash flows, although it is not clear what the long-term trends are for those cash flows.
Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
16y
Vikram I agree. I also believe that an area can be potentially good if you understand the market and know where to look. I find deals in my market and have be able to all along. There have always been distressed properties and if you know your area you can buy right and know what is a deal.
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
16y
Charles makes a good point - as long as you are optimistic, you can continue to find deals and work in any type of market. Know your market, know your area of expertise and target those that best fit your needs!
Real Estate Investor · Phoenix, AZ · Member since 2009 · 1k+ posts · 1k+ votes
16y
Bryan, I love Austin from a long-term perspective. Cities that make it hard to build and have a lot of regulatory hurdles (e.g. San Francisco) tend, over time, to have very high property values. Austin also has the cultural aspects that would want educated and affluent people to want to live there. People are willing to pay a higher multiple of their annual income for a home as their income levels increase, which should help Austin property values in the long run.
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
16y
Depends on what you want to do. I've been doing north Indiana because the state has been running a budget surplus all through the "crisis", has been cutting property taxes, and has sociological anchors that will keep people here and coming no matter what shape the economy is in.
Post depression is a good time for looking into any sort of "destination" city that people will always go to for a reason. The same reason I like key areas of North Indiana is the same reason I like key (hint hint) areas of South Florida.
Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
16y
Originally posted by Bryan Hancock:
What does everyone think of Austin?
Don't know it well enough but I'd imagine that in a city where homes range from 50k to 18.5 million there has to be some opportunity for something in there. My guess is flipping?
Investor · Southlake, TX · Member since 2009 · 950 posts · 338 votes
16y
Originally posted by Bryan Hancock:
What does everyone think of Austin?
What do I think of Austin? As the T-Shirt says, KEEP AUSTIN WEIRD. :cool:
I love Austin and the Hill Country. It is definitely in the heart of the Texaplex,see Texaplex.com. Strong economy and desirablity plus anti growth government = strong support for existing properties.
Real Estate Investor · Reston, VA · Member since 2010 · 7 posts · 1 vote
16y
Bryan, I do not about the Ohio market. But I did meet somebody from Buffalo New York and he said the real estate market there is flourishing. You may want to call real estate agents and pull some numbers to figure out. FYI
SFR Investor · Orange County, CA · Member since 2009 · 1k+ posts · 1k+ votes
16y
Originally posted by Bryan Hancock:
What is the primary industry in Buffalo?
Moving vans. :mrgreen:
No, seriously, a recent issue of Personal Real Estate Investor had a piece focusing on Rochester, NY, about an hour away from Buffalo. The city has a couple of large employers, like Eastman-Kodak, that lend some stability to the city, although many people have moved out over the past decade. The place has a large white-collar work force and the city is principally for living, i.e., not a vacation or tourist spot. Median home prices are just below $100k, rents are good, and vacancies are low. They were never in the bubble, so they never popped. Investors like the area for cash flow, not appreciation. (In my own words, nothing copied directly from the article).
Real Estate Investor · Columbus, OH · Member since 2010 · 18 posts · 27 votes
16y
Why the negativity about Columbus? I'll be relocating there in about 6 months to begin investing, and the strategy I'm looking at will be buy and hold, with the intent of renting. There seems to be a ton of inventory right now, and I'm seeing most of the homes listed on the HUD site and others are selling for much lower than listing. So the deals are there. In a city like Columbus, which some of you don't see as worthy of the top 5, what would be the best investment strategy? I don't plan on flipping and my plans are to hold the properties for at least 3+ years. Should I focus elsewhere? I'll be living in Columbus, so naturally I intended on focusing on that area. Now maybe I should rethink my strategy.
Any advice on the best investment strategies for Columbus, OH (in this market, and throughout 2011) would be appreciated!
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
16y
I really know next to nothing about Ohio except that my hornz were virtually universally in agreement that Ohio State fans are the worst fans on planet earth absent possibly OU fans.
I think everyone down south associates Columbus with the rust belt type of work and the auto industry. I have no idea if that is accurate so it is nice to see some views that differ so that I can get educated.
What is the primary industry in Columbus? I think it is still slightly bigger than Austin and they are both big college cities from what I gather.
Flipper/Rehabber · Pittsburgh, PA · Member since 2010 · 224 posts · 75 votes
16y
What are people thinking about Philadelphia?
Some friends of mine who are from there are trying to get something going in the Temple area. Seems like a good rental base from the colleges and city in general. Not too sure about flipping though..
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
16y
I don't know anything about Philly, but I am parking my money in the sunny states. The migration patterns seem to be signaling that people will live where it is sunny regardless of the cost or other tradeoffs.