Posted by Richard Roop on June 06, 1999 at 14:38:36:
Thanks, Bud.
Jessica is looking for a place to live. I assume she will buy a home and hold for at least a few years. I assume her Lease option deals may take 12-36 months to close. I assume she will take back second liens on some of the flips.
Doing all this in a NICE PLACE in my opinion is safer and more desirable than a depressed area.
Best Investment Cities? - Posted by Jessica
Posted by Jessica on June 04, 1999 at 13:36:23:
I’m highly considering getting into real estate investing (flips, L/O, etc.). I’m a little tied up right now, though, but do hope to do a few deals in the next year or two just to “get my feet wet.” I’m in the central Ohio area right now. However, in three or so years, if I still feel like this is a good business for me (although I don’t think I’ll change my mind about that… I’ve been reading up about it as much as possible lately and it seems like a wonderful opportunity), I’d like to move to an area that has a wealth of investment opportunities. Any suggestions? I recall reading about San Diego in one of the articles on this website and I have been researching that area (specifically La Jolla).
Any help would be appreciated. Thank you.
Jessica
rainqueen1228@yahoo.com
Re: Best Investment Cities? - Posted by bob
Posted by bob on June 05, 1999 at 02:14:44:
Jessica, I wouldn’t recommend the La Jolla market as one of the best to get into rehabbing and flipping etc. I live here and can attest to it. It is one of the most expensive areas in the US to live in. Avg home goes for $600,000 and up some as high as $16 mill. San Diego in general has been very difficult to find those motivated sellers because it has turned into a sellers market with people over bidding just to get into homes. However San Diego is a beautiful place to live, being that I am originally from OH myself.
Re: Best Investment Cities? - Posted by Richard M. Roop
Posted by Richard M. Roop on June 04, 1999 at 17:16:55:
There is a national immigration taking place in the US. This is the 5th migration. The fourth was after WWII with people moving out of the cities and into the suburbs.
Now people are moving out of the cities and suburbs and into rural counties just outside the commuting distance of metro areas.
This is a 60 year trend upward, now 20 years into it. 40 years of good prospects left. These counties are know as “penturbian” counties, or “rural regions of growth and opportunity offering reasonable prices, low crime, natural beauty and well-planned growth.”
I learned of this when I moved to Colorado from Hawaii after trying to figure where to move and buy real estate. I located research by Dr. Jack Lessinger of Bow, WA. Hois latest report is “Boom Counties”.
However, if you plan on flipping properties, you can live anywhere (but avoid depressed economies). There are always sellers mwho need their problems solved…even in hot markets.
Move somewhere nice, which satisfies with your personal values.
All cities are good for investing except… - Posted by Jim IL
Posted by Jim IL on June 04, 1999 at 15:48:44:
The one in which YOU live.
At least that is what “they” say.
But, seriously, REI is a good business in any city or area. The key is getting to know your market.
Which we all are trying to better all the time. I’m having a rather slow time getting to know mine right now, but I’m still getting deals.
Goto the chatroom here some night and you’ll see people doing deals from Alaska to Maryland. The entire country has homes and people wanting to buy/sell them.
Don’t move, just to make your chances for success at REI better, the determining factor is how hard you are willing to work at it.
Remember, anything worth anything, requires hard work,
Jim IL
Depressed economies - Posted by Bud Branstetter
Posted by Bud Branstetter on June 06, 1999 at 11:57:51:
Some guy named Terry Vaughn went to an area in the 80’s that had a depressed economy and did very well by flipping property. Ask Terry some day about his deals in Houston, Tx.
No real argument, just commentary.
I may be able to do some consulting from KY… - Posted by Harvey Carroll, Jr.
Posted by Harvey Carroll, Jr. on June 04, 1999 at 22:39:27:
I agree, you may have a lot of oportunities in your area. Most major newspapers in every large city has real estate classifieds that you can quickly search as well as real estate magazines at all major grocery stores.
I don’t know what type of investments that you are looking to do; however, if you have a tone of money I may do some consulting and/or partnership deals. I am a KY Broker and my major in college was finance/real estate. I am a great analyst and can do the number crunching very quickly and efficently. I could help you in Ohio and/or KY.
JR