If you could invest anywhere, where would it be?

7 Replies

I'm pretty new at this and am looking for help in getting going. I'm living in California where things are very expensive. I am very interested in becoming a landlord and in flipping properties. I wanted to see what people thought would be the ideal place to invest right now. I am open to anything and am just looking for ideas.

I know everyone says invest in what you know, but I don't see anything of reasonable value where I am. I'm willing to venture out of state to make this happen. Thank you.

The reason I'm investing in Indianapolis right now is because we have over 1,000 new foreclosures per month and 1,000 new bankruptcies as well.

We're buying duplexes, triplexes, and fourplexes for 50%-80% of their value and after all expenses are paid, they're cashflowing $200-$500/month. We pay a property manager and let them deal with the crap.

This is a buyers market and I don't expect to be buying cash flow properties for much longer than the next 4 years or so. By then, the market should be headed way up and I'll be pulling out.

I love the market here.

Originally posted by "landchasers":
The reason I'm investing in Indianapolis right now is because we have over 1,000 new foreclosures per month and 1,000 new bankruptcies as well.

We're buying duplexes, triplexes, and fourplexes for 50%-80% of their value and after all expenses are paid, they're cashflowing $200-$500/month. We pay a property manager and let them deal with the crap.

This is a buyers market and I don't expect to be buying cash flow properties for much longer than the next 4 years or so. By then, the market should be headed way up and I'll be pulling out.

I love the market here.

Hi,

I have two questions.

Question #1:

I have been interested in realestate for some time now but right now is would not be a good time. I don't have the money. My question is would a becoming a realestate agent and reading some books be a good way to start becoming an investor?

Queston #2: Since this is a buyer's market, when purchasing the property are you purchasing it to fix up and rent out?

Victoria, becoming a real estate agent can be good and bad. As an agent, you have access to the MLS and therefore tons of market comparables and information that is very helpful and vital to you as an investor. But, you don't have to be a Realtor to get that information. Developing a good relationship with one should be good enough. I'll email you more about that when I get a chance.

As for your second question, I would say that buying and holding in a buyers market is almost always the best suggestion. Renting it depends on the market and what that will do to the value of the property, your cash flow and so on as you wait for the market to turn and prepare to sell it back off.

Does that make sense?

I agree with land chasers' first post. I think in the next 3-4 years we will see a lot of people moving out of home ownership and back into apartments so you will want to buy rental / cash flow properties for the foreseeable future. There are a lot of places around the country where appreciation hasn't hit (mainly the midwest) so just focus on those markets and go.

Originally posted by "landchasers":
Victoria, becoming a real estate agent can be good and bad. As an agent, you have access to the MLS and therefore tons of market comparables and information that is very helpful and vital to you as an investor. But, you don't have to be a Realtor to get that information. Developing a good relationship with one should be good enough. I'll email you more about that when I get a chance.

As for your second question, I would say that buying and holding in a buyers market is almost always the best suggestion. Renting it depends on the market and what that will do to the value of the property, your cash flow and so on as you wait for the market to turn and prepare to sell it back off.

Does that make sense?

Landchaser,
First thanks for responding. Next, I understand most of the post but what do you mean when you say "buying and holding in a buyers market"?.

When there are more sellers than buyers this is called a buyer's market. In a buyer's market you can typically buy houses for less money or better terms than normal. So the plan is that you should buy property now and then hold on / resell the property when the market changes back to a seller's market (less sellers than buyers). You might have to hold on to a property for several years before you see the switch from seller's market to buyer's market.

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