Best Locations in West U.S. to begin investing? - Posted by James Beaumont

Posted by Jim R. on March 09, 2002 at 02:02:22:

Can’t recommend Colorado, at least not Colorado Springs, at this time. My read is that prices are way too high to get positive cash flow, or even close, and there is significant downside risk of a market fall. I’m sure some folks are still making money…but with huge risk. I well remember late 80s here, when folks lost shirts from being over-leveraged. Good luck.

Best Locations in West U.S. to begin investing? - Posted by James Beaumont

Posted by James Beaumont on March 08, 2002 at 23:07:53:


I will be graduating in May from Michigan State University and am ready to take action in RE investing. I want to move to the western area of either Nevada or Arizona but really don’t have a preference. Can anyone suggest areas that would be geared to the tradtional 3/2 investments with relatively low prices, I have an interest in fixers too. I apologize if this topic has already been covered but I tried 20 different searches and didn’t get any solid answers.


James B.

Locations in AZ and NV - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on March 09, 2002 at 13:12:52:

James Beaumont------------

Your plans sound sound to me. Dee(TX) gave you some good advice, as is her custom.

When she says use the internet, I would recommend You can see what properties are selling for in an area. Some of the real estate salespeople have toll-free telephone numbers so you can call and learn about their areas. You might be able to find some rental information on the net too.

I might have suggested newspaper subscriptions 5 years ago. These days a lot of the newspapers have a presence on the internet. You can read the real estate advertisements there. I do that with the OKC paper on a pretty regular basis. A subscription is a good fall-back if they do not have an internet presence.

I agree with Dee that you can get information from the local chambers of commerce, including local maps for free, usually. You can send them a card or letter requesting their information. However, remember they are always emphasizing the positive. And in the states that you mention, their brochures always feature very nice pictures of a lake or a stream, even if that is the only one in the whole county. Those states are real dry.

In NV, there are not very many medium-sized towns. There are two “big” cities, Reno/Sparks and Las Vegas. Either would be suitable, they are both growing. I suggest you might look at Elko, which is smaller. Depends if you want to be in a small town or not. I like to say the name Winnimucca, and I like the town ok, but I’m not recommending it, except to say the name from time to time for personal amusement. The have more motel rooms there relative to their population than anyplace else in the country, I think.

In AZ, there are a lot more medium-sized towns. Of course, everybody knows of Phoenix and Tucson. The latter is one of my two favorite cities in AZ. But they are only bearable in the late fall, winter, and early spring. For year-round living, I recommend: Prescott–my other favorite AZ city, Flagstaff, and the cities in Chochise County–Bisbee, Sierra Vista, and Douglas. Sedona, near Prescott, is wonderful, but the prices may make it too expensive to work the traditional rental housing approach there–but you might want to check it out. I have some fondness for Parker, on the Colorado River, but it is certainly not a city for everybody. It is near Bullhead City, and there is a lot of growth in that area, I believe.

Good Investing***Ron Starr

Try this - Posted by Dee-Texas

Posted by Dee-Texas on March 09, 2002 at 11:24:50:

Hi James,
I would look AROUND the larger cities. Some of the smaller towns…20,000-35,000 population are growing and have those older blue collar homes. If the town is growing then search it on the net…Next…subscribe to their local paper, making sure you read the classifieds, rent, sales, etc. Also look at the police report. Call the local chamber, talk to them about growth, sales, etc., that’s what they do. They will also send you a packet on the town.
Then narrow down your search to the ones that fill your buying criteria and the one you would be happiest in…Then hit the ground running…Great Success to YOU.