I was wondering if anybody could be of some help for finding hot areas to invest in real estate. I graduated college in June of 07 and have been working in the corporate world since. It has made me realize that I don’t want to try and work my way through the corporate later. Instead, I would like to start a real estate investment business and eventually live off of passive income. I have been working with Robert Kiyosaki’s “Rich Dad Coaching” program for the last few months and now it is time for me to start looking for an area to organize a team and start building a business. I have read some of Marc Garrison’s writing from the narei.com website, but haven’t had the time yet to start looking into his techniques on how to find that hot areas. If anyone could be of help I would be very thankful.
Well here is my Top Pick for 2008 based on my due dillegence.
I like the following areas in NC
I project a 14% increase in appreciation in the next 12 months.
Does anyone else agree?
What type of REI are interested in? Will you move to the “hot” location? Here’s my opinion, if an area is “hot”, it’s hard to find good deals. Look for places that have some major universities or a cluster of colleges. Look at job growth and future plans for businesses coming into the area. Colleges and jobs have people coming into an area constantly and where there;s people, there’s renters/buyers. You want to find an area that is “warming up” instead of already hot.
Forget the “hot” areas. If you want long term passive income from rentals, then buying today’s “hot” area is pointless. I would suggest buying in your own back yard, unless you live in a bubble area. If you live in a bubble area, I would move!
You don’t have to move, you can invest out of state.
I do it all the time!
You probably know the local market better where you live. But there are “emerging markets” all over the country and bad markets all over too. Just have to get the right research.
There are demographic companies and others that do that for a living and sell that info to investors and real estate industry people all the time.
Any area is a great market if the deal is right.