Posted by Tim on October 21, 2003 at 02:15:10:
Thanks Jim. Actually I’ve only been here a few months, and we plan on leaving for somewhere else anyway. And that could be anywhere.
I’m just curious to see people’s opinions on what particular cities may be especially good for RE investing, in their opinion. I realize it can be done anywhere, but I’ll be moving anyway, and the RE climate will be a deciding factor so thought I’d start looking into it.
Thanks.
The best city for RE? - Posted by Tim C
Posted by Tim C on October 20, 2003 at 21:28:04:
Just curious as to what people think is the best place to get into RE if they were going to move, and could go anywhere and RE was the only determining factor in location. Shoot…
stay home - Posted by Jim FL
Posted by Jim FL on October 20, 2003 at 22:36:25:
Tim,
If real estate was the ONLY deciding factor, then I’d say where ever you know the area best.
Have you lived where you do now very long?
If this is your “Hometown”, then in my opinion, that is the BEST place to start.
Why?
Because it is much easier to know the market.
I posted some time ago about this very topic and shared my reasoning.
When I began investing, it was in my “hometown”.
Knowing market rents was easy, because I was young, and most of my friends were renters.
Plus, it had not been that long since I too was a mere tenant.
So, with that info, I knew already what types of places rented for how much etc.
I also knew the approximate values on homes in certain areas, as well as the things people liked about each particular town, city, subdivision etc.
Now, I will confess, I’ve since moved from that area.
I do think to this day, the market was better than where I’m at now.
But, it snows there, and REI can be done anywhere, even here in Sunny Florida where it does not snow.
Take a look at where you are now, the opportunities to buy houses creatively are not limited to elsewhere, I assure you.
Good luck with what ever you do,
Jim FL