Areas To Invest In
guys,
I am looking for new areas to invest in.
I have been investing in upstate new york because the cashflow is okay but the equity stinks.
Is there any area where I can get postive cash flow and some appreciation in equity.
I know the market is bad now so i should get some bargins
Come take a look at Richmond-Petersburg, VA. I have been working with investors from both coasts (California to NJ) who are buying rehabs and rentals. They are especially interested in Petersburg because of the military base build up bring several thousand jobs over the next couple years. Prices are still dirt cheap and it is a great opportunity:
Jim[ Edited by ypochris on Date 02/03/2007 ]
Just dropped in to edit the contact info out of the above post- a big no no.
I am always promoting Lansing, Michigan. Capitol of the state (lots of government jobs), big schools (Cooley Law School, Michigan State University, Lansing Community college), big industry (General Motors, Dart Container). So there is a solid economic base.
Appreciation has averaged a bit over 6% a year in the long term according to HUD, and prices (and sales)remained steady through the "downturn" last year. You can still get a three bedroom house within blocks of the Capitol, Cooley, and LCC for under $50k, and rent it easily for $650 or more.
Chris
Sorry about posting my contact info and URL.
I have worked with out of state investors a lot (From NJ to California) and they are very happy with their rehab investments in Virginia. We have people lined up to make it easy to manage.
If you want information, just private message me.
Thanks
Have you looked into N.C? Prices are still very reasonable and N.C is one of the fastest growing states in the country. Texas is another state that seems to appeal to investors.
yes I hear of NC do you know of any online realestate news groups.
email me any info you have at **Please See My Profile**
how about philly? or bailtimore
bmore dont know anymore it seemed that between the balt city water co. and tenants u might not make any money
Quote:
On 2007-02-07 23:38, mritorto wrote:
yes I hear of NC do you know of any online realestate news groups.
email me any info you have at **Please See My Profile**
how about philly? or bailtimore
I was going off of HUD figures for Lansing, for the same time period, based on Fannny Mae loans for the same property sold multiple times during the period. Interesting how different agencies can be 100% apart.
Chris
Puckhead,
I manage my properties myself, so I have no experience with property management companies here. Eventually we will be moving out of here (I prefer a warm climate, but like the investment opportunities here) and I will have to find someone. I can get recommendations but you never know until you try them.
Chris
Sunny and Warm Florida, just stay away from the Gulf Coast. I like the Melbourne/Palm Bay area right now; many, many good deals to be found and the rents are still stable and moderate-high. Insurance and property taxes are on its way down....so are the lending rates..Big Bonus. Prices have already re-adjusted from the spike of last year(s) which is also very good. Ahhh, beautiful rocket launches and nice clean beaches/water. You would like it Chris[ Edited by Waylon on Date 03/15/2007 ]
Thats funny. My mother is from lil ole Petersburg.
Quote:
On 2007-02-03 07:57, jimingersoll wrote:
Come take a look at Richmond-Petersburg, VA. I have been working with investors from both coasts (California to NJ) who are buying rehabs and rentals. They are especially interested in Petersburg because of the military base build up bring several thousand jobs over the next couple years. Prices are still dirt cheap and it is a great opportunity:
Jim
<font size=-1>[ Edited by ypochris on Date 02/03/2007 ]</font>