Real Estate Investment....??

[NOTALENT]

I am planning to buy soon within the next 6 months. Hopefully a fixer upper and then just put some renter's in it. Anyone have any tip's on some up and coming hot spot's...??? I have been looking in Boise, ID, and Prescott Valley, AZ.

[Mandelon]

Kingman? Sposed to be a lot of development coming....

[Ivan Dan]

I keep hearing San Antonio, Houston, and Austin TX areas as well. The problem with TX is that they don't have a state income tax so they charge quite a bit higher property taxes which sucks for out of state owners.

[riverroyal]

I am planning to buy soon within the next 6 months. Hopefully a fixer upper and then just put some renter's in it. Anyone have any tip's on some up and coming hot spot's...??? I have been looking in Boise, ID, and Prescott Valley, AZ.
the street is for sale,renters in it.They pay 2800 a month!House will go for around 750k,you can cover the loan,maybe not the taxes

[jdogginla]

North Carolina and Pittsburgh area. Another thing that a friend of mine has been doing is buying properties around larger college campuses renting em out with good success. He pays a management company 7% of the monthly rent to take care of everything. He just gets his checks everymonth.

[al cole'holic]

Pasadena, Tx.....$80k for a brand new condo, lots of military will be stationed there and they do get housing allowances ;)
This will be our next purchase..

[NOTALENT]

North Carolina and Pittsburgh area. Another thing that a friend of mine has been doing is buying properties around larger college campuses renting em out with good success. He pays a management company 7% of the monthly rent to take care of everything. He just gets his checks everymonth.
I have thought about that. One thing holding me back is that I can't afford too much right now...im looking at spending about 200k. which Is why I was looking in ID, TN, AZ, TX etc...I would love to fix it up and flip it, but we will see what I can find. I was figuring in 10% for property management. I have an investor as well to use if needed, to front for a bigger purchase or other loan's.

[al cole'holic]

North Carolina and Pittsburgh area. Another thing that a friend of mine has been doing is buying properties around larger college campuses renting em out with good success. He pays a management company 7% of the monthly rent to take care of everything. He just gets his checks everymonth.
...I agree here too, buy something in a college town like a condo...you will have renters all the time, be prepared to fix things every semmester :)

[NOTALENT]

Pasadena, Tx.....$80k for a brand new condo, lots of military will be stationed there and they do get housing allowances ;)
This will be our next purchase..
Do you have any website or specific info on these???

[cdog]

In these kind of times be sure to buy where there is strong job growth in the forcast. Many areas that have had speculitive investors have allready started to bust. PM me you're email and i'll send you some articles. For instance The Carolinas and Utah had one of the highest default rates as of December.

[NOTALENT]

In these kind of times be sure to buy where there is strong job growth in the forcast. Many areas that have had speculitive investors have allready started to bust. PM me you're email and i'll send you some articles. For instance The Carolinas and Utah had one of the highest default rates as of December.
PM SENT...
Definatley something I have been looking at...

[Totally IncapASSitated]

In these kind of times be sure to buy where there is strong job growth in the forcast. Many areas that have had speculitive investors have allready started to bust. PM me you're email and i'll send you some articles. For instance The Carolinas and Utah had one of the highest default rates as of December.
Hey CDog-
I would be interested in checking out those articles also. If you get a chance can you forward them to me also at riverrat7578@aol.com
Thanks,
Alan

[NOTALENT]

Hey CDog-
I would be interested in checking out those articles also. If you get a chance can you forward them to me also at riverrat7578@aol.com
Thanks,
Alan
Alan, where have you been looking???

[doesitfloat?]

I'm in Boise and things are booming. My house went from $280K to $390K in last 12 months. Rentals are a great investment here but I have to warn you that spec buyers from Cali are FLOODING the market. The rental want ad pages are full of rentals. Still seems to be a good inv. but just be selective. As many others have said, "you make your money on the buy...not the sell"
I'm looking into buying around downtown Meridian (suburb town next to Boise)as it is an old little downtown that is just starting to get renovated. New modern buildings and/or historical restorations are popping up. Some good restarants and local clubs/bars...could be jumping in next few years. Good luck. If you need any other info on this area just ask.

[NOTALENT]

I'm in Boise and things are booming. My house went from $280K to $390K in last 12 months. Rentals are a great investment here but I have to warn you that spec buyers from Cali are FLOODING the market. The rental want ad pages are full of rentals. Still seems to be a good inv. but just be selective. As many others have said, "you make your money on the buy...not the sell"
I'm looking into buying around downtown Meridian (suburb town next to Boise)as it is an old little downtown that is just starting to get renovated. New modern buildings and/or historical restorations are popping up. Some good restarants and local clubs/bars...could be jumping in next few years. Good luck. If you need any other info on this area just ask.
How about Sun Valley or Ketchum??? A woman here at work goes up there alot and her and her husband are looking at buying a place in Ketchum. I guess alot of good things are going to be happening there..???

[Totally IncapASSitated]

Alan, where have you been looking???
You name it...have been looking all over the country. It definitely requires a lot of research, as everyone has mentioned. The Austin area (suburbs of Cedar Park, Round Rock, Leander, etc.) have peeked my interest, but still doing some investigating as to how the rental market would be, employment rates, etc. But of course, just about everyone you talk to has a different piece of advice.
Then of course there is always the old saying that "it takes money to make money!!!"

[NOTALENT]

You name it...have been looking all over the country. It definitely requires a lot of research, as everyone has mentioned. The Austin area (suburbs of Cedar Park, Round Rock, Leander, etc.) have peeked my interest, but still doing some investigating as to how the rental market would be, employment rates, etc. But of course, just about everyone you talk to has a different piece of advice.
Then of course there is always the old saying that "it takes money to make money!!!"
Your on the money brotha...I seem to be getting most info and most booming on the pan handle of FL. Damn...So many places to research...If you dont try you wont suceed...I would rather make an attempt at the game then to sit by and watch.

[Totally IncapASSitated]

Your on the money brotha...I seem to be getting most info and most booming on the pan handle of FL. Damn...So many places to research...If you dont try you wont suceed...I would rather make an attempt at the game then to sit by and watch.
I hear ya there!!!
FL has definitely been booming...consistently topping the national list for greatest appreciation
CNN Money Article (http://money.cnn.com/2005/12/22/real_estate/fastest_growing_states/index.htm)

[totenhosen]

Unless you put 30% down you will more than likely not have positive cash flow on a property in Prescott Valley AZ. The problem is there are so many investors in these areas that the market is flooded with rentals driving rental prices down while property values are at all time highs. Job market is also pretty bleek in Prescott Valley besides construction and R/E industry.
What I don't like about Texas besides the high property taxes is your are limited to how much money you can take out against the property.

[Old Texan]

Just from my point of view and no real research, the Auburn-Opelika, AL area is growing fast with a lot of automotive support industries moving in to service the Honda, Mercedes, and Hyundai plants. Plus University of Auburn is right there.
I have an aquaintance whose partners are looking at new multi family apartments and duplexes. They feel the need is there and prices are right.
Also Greenville-Spartenburg, SC. Lots of good buys on lake properties at Lakes Hartwell and Keowee. Clemson is right in the middle of the lakes.

[callbob4homes]

Gila Bend, Az. all I'm going to say
or Casa Grande, Az

[Tequila-John]

Gila Bend, Az. all I'm going to say
or Casa Grande, Az
GOOD CALL BOB!

[Totally IncapASSitated]

Unless you put 30% down you will more than likely not have positive cash flow on a property in Prescott Valley AZ. The problem is there are so many investors in these areas that the market is flooded with rentals driving rental prices down while property values are at all time highs. Job market is also pretty bleek in Prescott Valley besides construction and R/E industry.
What I don't like about Texas besides the high property taxes is your are limited to how much money you can take out against the property.
Hey Toten-
I was just about to ask to see where you were at...figured you would have some good input here. And yes, the high property taxes are a big deal killer for TX investment props (about as bad for me out here in Eastvale, new Corona development at 15 and Limonite)

[Mandelon]

I have a friend buyiing up places in Buffalo NY. You can get fixers for under $15,000, rehab, refi and rent for positive cash flow. He just bought a 6 unit apt building for $180K. He has family there, so it makes sense for him. Too far from home for me....
www.realtor.com

[NOTALENT]

I have a friend buyiing up places in Buffalo NY. You can get fixers for under $15,000, rehab, refi and rent for positive cash flow. He just bought a 6 unit apt building for $180K. He has family there, so it makes sense for him. Too far from home for me....
www.realtor.com
wow...that would be nice....I have been looking on the east coast...but im starting to think it would be best if its some what close...at least until I get more expierienced doing this. My best friend would be doing all the repair's. So I will be sending him whereever I buy.

[al cole'holic]

..do you own anything now NOTALENT?? :confused:

[doesitfloat?]

How about Sun Valley or Ketchum??? A woman here at work goes up there alot and her and her husband are looking at buying a place in Ketchum. I guess alot of good things are going to be happening there..???
Ketchum Yes. Sun Valley...BIG bucks.

[NOTALENT]

..do you own anything now NOTALENT?? :confused:
Nope. Im 22 looking to buy my first small investment property.

[NOTALENT]

Ketchum Yes. Sun Valley...BIG bucks.
Big bucks to be made or big bucks to buy???

[al cole'holic]

Nope. Im 22 looking to buy my first small investment property.
Pretty much anything you buy will be a good investment :)

[NOTALENT]

Pretty much anything you buy will be a good investment :)
haha..yeah..I guess...I want to buy at least 2 this year. First one I would love to do a flip, just so I can expierience it...and then the other would be something I want to hold on too...

[totenhosen]

How come you don't buy your own place first before buying an investment property?
It is a valuable experience and teaches you some basics.
Also buying an investment property is going to cost you some more upfront money in higher costs, more money down, management fees and higher interest rate.

[NOTALENT]

How come you don't buy your own place first before buying an investment property?
It is a valuable experience and teaches you some basics.
Also buying an investment property is going to cost you some more upfront money in higher costs, more money down, management fees and higher interest rate.
The cheapest housing near me is 450k plus. I can't afford it and I dont want to move away from hear yet.

[totenhosen]

haha..yeah..I guess...I want to buy at least 2 this year. First one I would love to do a flip, just so I can expierience it...and then the other would be something I want to hold on too...
Are you familar with the capital gains tax on a flip of a property that you have held for less than one year? Plus you are not going to have the added benefit of sky high appreciation. (I think we can all agree that we arent going to see appreciation rates of 20%+.)

[totenhosen]

The cheapest housing near me is 450k plus. I can't afford it and I dont want to move away from hear yet.
Duplex my friend! IMHO it is the cheapest/best way to get into your first property.

[NashvilleBound]

If your interested we handle Middle TN....mainly Rutherford County(just south of Nashville). You can get into homes very reasonably....from CA most people are cashing them out. Rentals range from $85-140k.... very cheap as far as i am concerned. If you want any info just e-mail me and I will send you everything that you request....make sure you tell me what kind of properties (sfr, dp, multi, land.....), how many, price ranges and such so I can get you only the info you need and no garbage.
Good Luck.

[NOTALENT]

Are you familar with the capital gains tax on a flip of a property that you have held for less than one year? Plus you are not going to have the added benefit of sky high appreciation. (I think we can all agree that we arent going to see appreciation rates of 20%+.)
Yup..im aware of the capital gains and how they will ream me...I know the appreciation has slowed down a bunch. I have looked into duplexes and actually wouldnt mind..I have seen a few in Vegas and Havasu that I missed out on.... :cry:

[doesitfloat?]

Big bucks to be made or big bucks to buy???
Big bucks to buy. Sun Valley is a resort town...like Tahoe. We're building 2 spec homes there right now for $1.3 mil each. Condos can run into the high $300,000 (maybe more now?).

[STV_Keith]

Yup..im aware of the capital gains and how they will ream me...
If you plan is to flip all the funds from the first property into a second property, which is not your primary residence, take a look at a 1031 tax exchange. It has a certain time limit on when to get things done, but it defers all the capital gains tax.

[riverroyal]

If your interested we handle Middle TN....mainly Rutherford County(just south of Nashville). You can get into homes very reasonably....from CA most people are cashing them out. Rentals range from $85-140k.... very cheap as far as i am concerned. If you want any info just e-mail me and I will send you everything that you request....make sure you tell me what kind of properties (sfr, dp, multi, land.....), how many, price ranges and such so I can get you only the info you need and no garbage.
Good Luck.
the prop management end also?WTF do you do now?Boss :)

[RP1]

If you plan is to flip all the funds from the first property into a second property, which is not your primary residence, take a look at a 1031 tax exchange. It has a certain time limit on when to get things done, but it defers all the capital gains tax.
He is correct... a 1031 will get you out of your capital gains as long as you reinvest within the time frame aloted. I have done it twice with no capital gains.

[NOTALENT]

If you plan is to flip all the funds from the first property into a second property, which is not your primary residence, take a look at a 1031 tax exchange. It has a certain time limit on when to get things done, but it defers all the capital gains tax.
yup...actually I just learned that when my parents did this..Sold one of there homes in parker and purchased one in prescott Valley. Thats an idean that I havent thought of for myself...thanks... :rollside:

[BADBLOWN572]

I looked into buying an appartment complex out of the state, but decided against it. There are too many things that can go wrong with the investment. You will be paying property tax in another state, you are a long ways away in case something goes wrong, no supervision ability, etc...
If you are going to flip something, why not do it in CA? That would make sense to me. How do you plan on finding a fixer upper out of state and making any money on it? If you do it yourself, you will have to take so much time off of work that it won't be practical. If you decide to go with a contractor to do everything, there goes your profit margin and a large chance that you will get F'ed on price. If it was me, I would find something close to home that is under valued and roll on it. Do the work yourself and then flip it. I made quite a bit of $ doing that. Once you start giving away control...good luck.

[NOTALENT]

I looked into buying an appartment complex out of the state, but decided against it. There are too many things that can go wrong with the investment. You will be paying property tax in another state, you are a long ways away in case something goes wrong, no supervision ability, etc...
If you are going to flip something, why not do it in CA? That would make sense to me. How do you plan on finding a fixer upper out of state and making any money on it? If you do it yourself, you will have to take so much time off of work that it won't be practical. If you decide to go with a contractor to do everything, there goes your profit margin and a large chance that you will get F'ed on price. If it was me, I would find something close to home that is under valued and roll on it. Do the work yourself and then flip it. I made quite a bit of $ doing that. Once you start giving away control...good luck.
I hear ya, but California is way to expensive and when you do find a deal, theres always someone there ahead of you. My best friend is now a independant contractor working for himself...He built all the new homes in Singal Hill when working for his previous company. He would be the one doing the work for me. I am skeptical about giving away control like you said though. Plus all home appliances I get @ cost through a friend. Im just lookin at the options. It's time to start somewhere...

[NashvilleBound]

the prop management end also?WTF do you do now?Boss :)
I, personally, buy farms and such to develop them into tracks of residential homes, from which is taken over by my RE company...... Which is tied into my property management co..... questions?

[riverroyal]

I, personally, buy farms and such to develop them into tracks of residential homes, from which is taken over by my RE company...... Which is tied into my property management co..... questions?
from concrete,congrads.Is Shea Homes there in tenn?

[cdog]

Food for thought...A 1031 is a tax DEFERED exchange. That means you'll pay tax's eventually. Also Let's say you go out and buy a rental or two. One big problem you'll have in the future is you're debt ratio. It most likely will be too high when you go to buy a home for yourself to live in. You could go stated income but i'd bet they will get tougher to qualify as soon as some of the fraud catches up to the lending industry. My advise is to wait or buy a local duplex or triplex. Remember that lenders will only allow you to use 75% of you're income off of the rental when qualifing for the next loan (that may be you're own home). Most likely you'll be in the negitive cash flow from the rental.
You're young! Don't paint yourself into a corner! Trust me I bought my first home when I was 19.

[NashvilleBound]

from concrete,congrads.Is Shea Homes there in tenn?
...LOL....Pump co still runs in CA too..... but thanks anyways. No Shea homes here but plenty of others.

[riverroyal]

...LOL....Pump co still runs in CA too..... but thanks anyways. No Shea homes here but plenty of others.
I need a change of scenery,my wife would kill it there,and id just screw around working for you

[STV_Keith]

Food for thought...A 1031 is a tax DEFERED exchange. That means you'll pay tax's eventually.
That is true, but it also depends on your long-term goals. I own a piece of raw land outside of Kingman now, and plan to flip it into a rental here in Vegas later this year. 1031 to do that.
I have not done the research, but have been told that the IRS allows a one-time tax exempt transfer/sale after age 55. If that's true (and I have a long time to find it and figure it all out), but it may make a nice way to defer until then, then use that as my cash-out.

[totenhosen]

I have not done the research, but have been told that the IRS allows a one-time tax exempt transfer/sale after age 55. If that's true (and I have a long time to find it and figure it all out), but it may make a nice way to defer until then, then use that as my cash-out.
It is my understanding that is no longer the case with the $250k (single) and $500k (married) tax free exemptions on primary residences.
However if you are referring to the transfer of property taxes (Prop. 60) to a new primary residence that is only certain counties in CA that allow for that. (Not sure about NV.)

[NashvilleBound]

I need a change of scenery,my wife would kill it there,and id just screw around working for you
Dont tell anyone but I really just Eff Off all day and really "Work" about 10 hours a week.... so, if 3-4 days a week on the water interests you come on out;) I am sure we could handle it.....

[riverroyal]

Dont tell anyone but I really just Eff Off all day and really "Work" about 10 hours a week.... so, if 3-4 days a week on the water interests you come on out;) I am sure we could handle it.....
10 hour work week should be perfect.

[NashvilleBound]

10 hour work week should be perfect.
LOL....ok...but be carefull for with what you ask for..........

[callbob4homes]

something to think about when investing

[NOTALENT]

Gila Bend, Az. all I'm going to say
or Casa Grande, Az
Anymore updates on the areas listed...?????

[brianthomas]

Kingman? Sposed to be a lot of development coming....
Just went through Kingman last week, what would be the attraction???

[CornWater]

Potential very large development coming to Desert Hot Springs....1.5 billion dollar deal.. golf courses, thousands of homes, commercial development, the works. Backed by Phil Mickelson.

[F26]

I keep hearing San Antonio, Houston, and Austin TX areas as well. The problem with TX is that they don't have a state income tax so they charge quite a bit higher property taxes which sucks for out of state owners.
sucks for in state buyers too

[Havasudan]

Does anyone have a feeling about Lake Havasu Real Estate?
Seems to me to be fair priced with good upside. According to people I talk to you can't lose in Havasu.

[Mandelon]

Just went through Kingman last week, what would be the attraction???
50,000 new homes on the drawing board....

[sleek23]

I have two home being completed now in albaqureque nm and have made at least 50k on both without hardly a penny being paid out. Also the sell time right now is under 2 weeks and getting hotter.

[CornWater]

Yeah Cornwater, if they can get past the endangered whatever Bs. If you're referring to the project up off of 62 goin towards Yucca Valley I don't think it's goin to fly for a really long time to come. Too many obsticles.
I just sold a piece down off of Mt View and 20th and did all right but am now looking down around Thermal for investment.
Rio
It's the MSHCP, and if they are able to annex into the city there is a very good chance it will go through. It would have to be a calculated risk, but what lucrative investment isn't?

[locogringo]

there is a little trick wherein you wouldn't have to pay any capital gains at all but you would have to soak me in melted butter and try to eat it out of me...
lol

[ROZ]

It is my understanding that is no longer the case with the $250k (single) and $500k (married) tax free exemptions on primary residences.
However if you are referring to the transfer of property taxes (Prop. 60) to a new primary residence that is only certain counties in CA that allow for that. (Not sure about NV.)
I thought they upped it to 325k single 650k married...

[Ivan Dan]

I thought they upped it to 325k single 650k married...
We all wish

[sorry dog]

Just from my point of view and no real research, the Auburn-Opelika, AL area is growing fast with a lot of automotive support industries moving in to service the Honda, Mercedes, and Hyundai plants. Plus University of Auburn is right there.
There's quite a few double wides down there for you to invest in.
Actually, I'm fast becoming a tree hugger from watching so many sloppy developments come in that rape the land in the interest of get'er done.