The next high end booming city?!?!?!?

Question

What cities do you think will boom in the next 5-10 years? I know, the million dollar question. I may be selling a property in California and cashing out of some equity in which I want to put on my next investment property. Cash flow would be nice but I’m more about gaining equity.

I thought Vegas might be a good bet. The high speed train is actually finally getting built. Also a massive movie studio is relocating there. I’d probably like to stay in that area (Summerlin) but maybe priced out already.

Anywhere else in the country that you feel is the next high end city on the brink of development?!?!?!?

Bradley Buxton · Answer

@Lisa H.

Check out the Reno, NV. Reno is a strong appreciation market. It's the closest city out of CA and the closest to Silicon Valley. There is a lot of tech and manufacturing growth to complement the hospitality and medical industry here. Tesla is building all the semi-trucks here. Surrounded by mountains in a valley that naturally constricts growth there will continue to be a shortage of housing. Vegas has much more buildable land. This will continue to drive appreciation and rent prices up. The same in Vegas Nevada has the 4th lowest property taxes that do not assess on the sale of the property, very different than CA. It's also a landlord-friendly state making evictions if necessary easier.  Happy to share some data and insights on the area.

Bradley Buxton · Answer

Most of Reno is in high demand because of such low supply and new construction is limited by the surrounding mountains. The west side and old southwest of Reno will have the highest rents. There are other good areas to invest.  I have family in SD and it's a quick flight for us and easier than the drive.

Lisa H. · Answer

That might be a good market too. I thought of Reno and the proximity to Tahoe. It would be further for me to drive to since I’m in San Diego. What areas are in high demand? I know nothing about Reno.