… Well it seems this is what you see, read, and hear all over the news these days. Real Estate Investing sours the ears of many who have little or no real knowledge that this may be the “Perfect Storm” for Real Estate Investors.
From what I see in a lot of areas, it is truly a buyers market. Except in some areas the foreclosure market is so hot it is actually a sellers market with many times multiple bids comming in, and sometimes over the asking price.
It is like a feeding frenzy in that niche market.
As most of you who know me, know that I am a big fan of the “Buy and Hold” method of getting wealthy through Real Estate Investing.
With that end in mind and since we have such a large pool of investors in this forum who are based through out the county. I want to Pose this important Question to you.
Where do you feel in the United States is the best place to buy right now if your exit strategy is to buy and hold the property using it as a rental.
Please be specific as to city and neighboorhood. If you already own properties in these same areas please show how that is working out for you.
This segment is not affected by factors such as the economy and unemployment. I recently read that some private student loan companies are going to stop lending but that doesn’t scare me one bit. I feel pretty confident that the government won’t stop giving out money for college-bound people.
I have been doing some deasl for my clients in Kansas and Missouri and they all have excellent cash flow. I live in Calif. myself and we all know about the cash flow here, especially in Southern Ca. I am about to do another deal for another client in Kansas City. It is a multifamily with excellent numbers. I am going there for a short visit next week and will look at some more properties and, God willing, put some deals together for myself. I am gathering more info on their local markets to have more specific info and will share that info here shortly.
No matter where you are there is somebody making money in real estate. Some places rentals don’t work as well as buy fix-up and sell, some areas acquision requires different techniques so there is no cookie cutter that works everywhere. I would not reinvent the wheel. What I would do is find out what those people are doing and do that.
Wallacehobs - quick question - In your original posting you mentioned that your exit strategy was to buy and hold… Not sure if I understand it… Where is the EXIT in your strategy? I thought your strategy is buy and hold… The Exit strategy shouldn’t be something you would do in case your original strategy failed? For example, if you bought a property that was not cash flowing then your exit strategy is … (fill the blank). Does my question make sense? If not, just ignore it… :O)