Best citirs to buy investment rentals?

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November 17 2012 - Henderson
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60% off the peak is as good a reason to buy
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November 18 2012
Profile picture for wetdawgs
@Linda: As you linked the article, I thought you must have had some agreement with the reporter's position.  Apparently you don't, so oh well, forget I've asked.   I don't do "CNN statistics", the few times I've tried they are so far from what I consider sensible use of numbers that I've torn my hair in dismay.   (I also don't buy things advertised "as seen on TV".  I figure they need more than that to justify their position - as do you.)



  
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November 18 2012
contact the reporter for CNN and ask them why Vegas is the best city to buy investment rental property

as for the link re how to profit with no money down...  it's a play on words...

most of my deals are 100% cash so don't ask me who is able to buy with no money down

11% increase in home values indicates values are now back to 2010

the time to buy was 2011
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November 18 2012
Profile picture for wetdawgs

@Linda:  Unemployment in Las Vegas is currently almost 50% higher than the US national average.   Why would one want to buy a rental property in an area where the unemployment is so high (see #2 on the other poster's list)?

Why did you provide a link to a site with a statement like this "The Carleton Sheets materials, including his "No Down Payment" course has been around for a long time. You would think they could finally get it right. But, like most of the "gurus", they are interested primarily in their own wealth, not yours."

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November 17 2012
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November 17 2012
In my area, Palo Alto, Los Altos and Mountain View are great cities for investment properties.  My family has owned investment property for most of my life and I can recall most of my summers and weekends spent painting and cleaning those homes.  But before you buy, consider the following;

When buying an investment property, location is key.  Ask yourself the following questions;

1) What are the schools like?  Do people want to move to this area for schools?  Our school system has fantastic API and AYP scores and we even have people from other countries moving to this area just so their children can attend our schools.

2) Are there any jobs?  In the Bay Area, we have many different employers, from technology companies to educational institutions.  Because of our diversity, this area has thrived, when others have struggled.

3) Is it safe?  Palo Alto, Mountain View and Los Altos have thriving downtowns and people are out and about at all hours.

4) Is the area family friendly?  In Los Altos, we have many different family/kid programs, such as Hidden Villa.  In Mountain View and Palo Alto, there are many different educational and family programs also, from after school child care to specialized summer programs.

5) Do properties tend to historically appreciate or depreciate? Historically, in this area, property tends to hold it's value or go up.  While no one can predict the future, having a past track record of being profitable is another good indicator of strong investment properties.

6) What are the rents?  Would a buyer be able to pay down the mortgage with a tenant's monthly rent payment?  Even if you are paying all cash, knowing you could cover the mortgage if you had to- that is a great indication of a profitable investment.

7) Would you live there?  Nobody wants to live in a slum.  Don't be that kind of a landlord.  Be proud of your investment and make sure it is the kind of place you would be comfortable to call home yourself.  If you treat your investment well, you will find your investment will return the favor.

With all those questions in mind, I can say that the Bay Area is a great place for investment property!
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November 17 2012
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November 17 2012
 
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