Best states to buy n hold in
HI, I am looking to invest out of my area as I live in California. I am familiar with a few other markets such as Denver and Seattle but they are a bit spendy too.
What states are good for lower purchase prices and greater ROI?
I have heard Texas, Tenn, Indiana...are good would be nice to buy closer to where I live though. Opinions and success stories?
thanks, Dan
MODERATOR: OK, MY USUAL WARNING HERE. IF YOU POST A RECOMMENDATION OF WHERE TO BUY PROVIDE INFORMATION AS TO WHY YOUR RECOMMENDATION IS A GOOD ONE. "BECAUSE I HAVE PROPERTIES FOR SALE IN THAT AREA" IS A REALLY BAD REASON TO RECOMMEND AN AREA.
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As an investor, the moment I see a city hit a Forbes or Money magazine top 'whatever' list, I stop looking in that area.
Why? Because every other Tom, Dick and Harry who fancies themselves a real estate 'investor' will be flooding those markets, paying more than what a property is worth and creating undue competition for properties that are quickly becoming overvalued anyway.
I use these lists to provide me with data about the next up and coming markets. I look at areas just slightly outside the areas listed and look for deals there.