IF You Could Buy A Some 250K Property
Where would you put you money to make the best rents, and make sure they are leased out for the longest time? (jobs and highest rent per FMV ratio?)
And I did post in residential so only over 4 units that i could fit into the budget
No talking about where to get an investment property. I am not worrried about appreciation, just want to make sure it stays rented and has the lowest overall cost to buy, but the higest in rent returns.
Ah, I see.
I live in San Jose, CA and as you know it is often cheaper to rent in CA than it is to buy. We started building a rental portfolio in Michigan because the properties are so much cheaper compared to CA (reverse sticker shock! A $50k house in MI is $500k in San Jose). We also did a little work in the Austin TX area because the prices are still so under infllated - not downtown Austin, but surrounding areas. However, there is more competition in Austin.
Hope this helped. -- Kim
I do not care about
"Austin TX area because the prices are still so under infllated"
If I suffer deprecaition, I wont mind if I am making 400 cash flow per month
I have a 6 unit, I am working that has very positive cash flow. Not in California. Easier on taxes.
Try Southern States, also pittsburg pA. Tons of cheap rentals there, not much in appreciation but in cash flow. Management is your issue to overcome. I am looking to do the same thing as you long term
I would recommend Atlanta. Some of the renewal communities are offering AMAZING breaks on property taxes, as well. Email me privately if you like for some suggestions.
If you are looking for longest rents and stable tenant, buy retail condos in a strip mall. you can have a NNN tentant and its very little hassle.
Suggestions on where to get info on buying the Retail Condos you mentioned?
Kim[ Edited by kimander on Date 02/18/2007 ]