Updated about 9 years ago on . Most recent reply
Western real estate markets
Greetings fellow investors,
My partner and I own all of our properties in Pennsylvania, yet we live in California. The price of housing is exponentially higher in Southern California compared to western PA. We currently rent in CA, but want to buy a place so that we begin to pay down principal, accrue tax benefits, and lock in a monthly housing payment in a rising rental market. The San Diego market is too expensive for us to buy a duplex, so we are considering a single condo.
But that's not ideal from an investment standpoint since we want to be financially free in a few years. We are open to buying a place in another market in the western third of the country (Denver and points west) and renting that property out for our future habitation during retirement. A duplex in another western city would be ideal.
Do any of you have recommendations on medium-to-large western cities that have reasonable prices with cash flow (however minimal) potential? I know that Salt Lake City is reasonably priced, as is Tucson and Phoenix. I'm eager for your thoughts!