Best places for property investment in USA right now. Ok, so we’ve made a look up on best investment places to buy property and here’s the whole elaboration.
Destin, Florida, is very expensive. Destin is a great destination if you have plenty of money or were wise enough to have invested here years ago. Enough said, we only want to talk about places where you can break even within 3 years. Sooner is better. Florida is a solid investment – in spite of the hurricanes. It’s still the number one place that retirees are relocating to. It’s hard to find a house to buy though and prices have skyrocketed in the past 12 months. The builders can’t build quickly enough to satisfy the demand. The coastal properties are being developed into a mass of high-rise condos. You (as the buyer) may need to tell the builder that you’re buying a second home / seasonal home / retirement home. However, check to make sure the builder and/or homeowners association don’t have any rules against sellers renting their property out. You can still buy an ocean view, 2-bedroom condo in Fort Lauderdale for about half a mil. But Texas is the safer investment.
Gulf Shores, Alabama, is one of our personal favorites and one of the best places for property investment right now. There are not as many places to get into for cheap. The values have been rising nicely but rental income (thanks to almost no inflation) has not kept up. So you gotta look a little harder for the pearls here. But they do exist. SeaCrest was looking very good. A one bedroom was still around $160,000 and gross rents were up in the 20’s. Not bad. More info to come.
Steamboat Springs, Colorado. This is a tough call. Colorado has high management fees, high association fees (they tend to call them assessments which is usually in addition to the association fees). More to come. Still investigating.
Phoenix, Arizona – Can’t currently recommend it as an investment. If you’re planning to retire there, then sure! Buy your retirement house. But if you’re looking for the best place to invest your money, let me guide you to Texas.
Las Vegas / Henderson, Nevada – No one had recommended Las Vegas for several years. The Vegas market went crazy (prices quadrupled) about 4-5 years ago. Those high-rise towers along The Strip make us nervous – even though we know folks who have made some big bucks buying and flipping those condos in the early phases of development.
Utah – Haven’t been there yet, but we’ve read that a lot of retirees will be moving to Utah.
Georgia – Atlanta has been overbuilt with new homes, so there are good deals to be had, but that makes it more difficult to find a renter. Values won’t shoot up anytime soon, due to the overbuilding.
North Carolina – very attractive and one of the best places for property investment in USA because retirees are flocking to the sun belt. Might be a good idea to buy in an up and coming retirement community.
New Mexico – haven’t heard/read anything good or bad, but for some weird reason, I just like the idea of owning property in Albuquerque.
California – prices are quite high in most of California. There may be some good deals in Fresno/Clovis. The new home builder prices are excellent, but I haven’t had the opportunity to do any research on prospective tenants, jobs, rental prices, etc.
What are the best places for property investment in USA? As you can see there a lot of options with some of them being my favorites. So keep looking in the areas I mentioned, because the possibility to find a real gem there is higher than average.
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