View Full Version : Wher to buy rentals now?
FREIND OF AA AND TA
10-20-2006, 10:00 AM
I have not asked in a while and have not gotten any good tips. Where is the market rock bottom? What towns are at the beginning of their boom?
Dont say Havasu either, those prices have a lot more to go.
Any of these places near water or snow?
lalhc
10-20-2006, 11:00 AM
Hey Mike, a couple buddies of mine have been buying property in the San Antonio & Houston areas near college towns that are providing positive cash flows.
Havasu1986
10-20-2006, 11:06 AM
A guy at work is going to Lake Travis area outside Austin Texas in a few weeks to look at retireing their.
Nautitwins2
10-20-2006, 11:07 AM
I have not asked in a while and have not gotten any good tips. Where is the market rock bottom? What towns are at the beginning of their boom?
Dont say Havasu either, those prices have a lot more to go.
Any of these places near water or snow?
Started doing some research in Utah, near the lake. Tempe, AZ is working out, but you have to be in a Quad or bigger. SIngle family units will not be positive.
Mandelon
10-20-2006, 11:11 AM
Looking long term, as the baby boomers retire they will want to move to retirement towns. Somewhere warm, but near enough a big city to get good medical care. Pretty much anywhere in the southwest, AZ, New Mexico, Texas. And then folks who are priced out of florida in the surrounding states as well. Lots of growth in Colorado too.
College towns/areas always need rentals, but they are rough on them. The repairs cost a fortune and wipe out much profits.
Investors will be switching from Real Estate back to stocks for a while though, so don't expect big returns for a while.
NOTALENT
10-20-2006, 11:13 AM
NY. My partners just bought 2 rentals a piece with tenants still in them. The paid about 100K each give or take. Positive cash flow and the tenants have been there for years. This is where I will be buying soon. I believe it was Albany and Syracuse where they bought.
2Driver
10-20-2006, 11:34 AM
A guy at work is going to Lake Travis area outside Austin Texas in a few weeks to look at retireing their.
That place is fantastic. See Lakeway area. Clear water, water front homes boat docks. Beats the crap out of LHC on a bad day.
FREIND OF AA AND TA
10-20-2006, 01:04 PM
Hey Mike, a couple buddies of mine have been buying property in the San Antonio & Houston areas near college towns that are providing positive cash flows.
How is the Arrowhead market?
ChumpChange
10-20-2006, 01:08 PM
How is the Arrowhead market?
You talking Lake Arrowhead here in SoCal? Not sure with what you quoted. Have financed a few multiple unit residences up there as well as Crestline. Still takes a pretty good downpayment for decent cash flow but it can work.
NOTALENT
10-20-2006, 01:13 PM
How is the Arrowhead market?
I thought the value dropped a bit since they had that fire, but im not sure about that. I would love to buy there just for a vacation house. We had one with lake right, but sold it 4 years ago.
ChumpChange
10-20-2006, 01:16 PM
I thought the value dropped a bit since they had that fire, but im not sure about that. I would love to buy there just for a vacation house. We had one with lake right, but sold it 4 years ago.
That fire was a while ago. Trees do come back and so do values.
Looking long term, as the baby boomers retire they will want to move to retirement towns. Somewhere warm, but near enough a big city to get good medical care. Pretty much anywhere in the southwest, AZ, New Mexico, Texas. And then folks who are priced out of florida in the surrounding states as well. Lots of growth in Colorado too.
College towns/areas always need rentals, but they are rough on them. The repairs cost a fortune and wipe out much profits.
Investors will be switching from Real Estate back to stocks for a while though, so don't expect big returns for a while.
Sorry AZ is closed. Nothing to see here move along.
NOTALENT
10-20-2006, 01:20 PM
That fire was a while ago. Trees do come back and so do values.
1 or 2 years ago, but them trees aint coming back that fast unless they tore them all out and replanted some fully grown or partially grown trees.
Trailer Park Casanova
10-20-2006, 01:23 PM
Hey Mike, a couple buddies of mine have been buying property in the San Antonio & Houston areas near college towns that are providing positive cash flows.
Isnt there an area in San Antonio called:Cats Eye hill or something close that's a good deal on a nice area?
The lower cost areas all seem to have insect issues.
ChumpChange
10-20-2006, 01:28 PM
1 or 2 years ago, but them trees aint coming back that fast unless they tore them all out and replanted some fully grown or partially grown trees.
So you really think dead trees are going to drive prices down?
lalhc
10-20-2006, 01:34 PM
How is the Arrowhead market?
It is softening a bit, but prices have remained firm. Sales typically slow down in the colder months every year. Arrowhead is what I call a very transient area. Lot's of people travel up here for the first time, fall in love w/the place and buy a house. After spending a couple seasons up here pretty consistently, they come up less and less and then finally sell the place. Good realtors up here do very well because they end up selling lot's of the same house over and over again.
lalhc
10-20-2006, 01:38 PM
What fire? What trees? All that is in the past. I can't even remember what my house looked like when I had all my tree's and I am only reminded of the fire when I travel up and down the hill. The area and market all bounced back once everyone's dead tree's were down and the past two winter seasons filled the lake back up. It was only 3 years ago our lake was 20' below its spillway. The lake is our only source of water and it is naturally filled by mother nature.
a catered life
10-20-2006, 02:03 PM
hearing good things about texas
NOTALENT
10-20-2006, 02:04 PM
So you really think dead trees are going to drive prices down?
It did for a bit, I know it will come back up if already hasnt. I havent looked into it in a while now.
NOTALENT
10-20-2006, 02:06 PM
What fire? What trees? All that is in the past. I can't even remember what my house looked like when I had all my tree's and I am only reminded of the fire when I travel up and down the hill. The area and market all bounced back once everyone's dead tree's were down and the past two winter seasons filled the lake back up. It was only 3 years ago our lake was 20' below its spillway. The lake is our only source of water and it is naturally filled by mother nature.
Good to hear it all bounced back. I miss that place. Where abouts are you??
lalhc
10-20-2006, 02:45 PM
I live on the N. side of the lake in the Tavern Bay area.
I am doing purchase deals in for rentals in South Carolina, Tennesee, Michigan, and Washington that have great cash flow with only 20% down, and a couple with 10% down. I didn't find them, my clients did through Marshall Reddick.
msc5195
10-20-2006, 04:13 PM
I live in South Georgia and the real estate market is booming. My wifes cousin purchased a home in a brand new subdivision. she started having trouble with the neighbor. Come to find out the neighbors were renting. The owners are from Cali and are buying over here on the east coast as investments. Look HERE (http://maryhuntshomes.com/) for some housing info in my area.
shueman
10-20-2006, 05:42 PM
That place is fantastic. See Lakeway area. Clear water, water front homes boat docks. Beats the crap out of LHC on a bad day.
Go further upriver to Marble Falls and LBJ....we're ready to pull the trigger on a lakefront.... :cool: :crossx:
4DAY4PLAY
10-20-2006, 05:48 PM
Why buy now? Every article ive read said more depreciation next year.....REMEMBER the old saying BUY LOW, SELL HIGH??? Think about whats going on right now....invest your money in a secured CD for the next 6-8 months at 5-6%(which isnt hard to find) and see what prices do next year!(when cash will be king!) My guess is it will drop 6-10% next year....almost EVERYWERE, some places more than others. Remember im not a RE agent or else i would be saying BUY BUY BUY!!!
riverroyal
10-20-2006, 06:05 PM
and Idaho are doing well right now,rent will more than cover your morgage in those areas
Old Man Havasu
10-20-2006, 06:54 PM
That place is fantastic. See Lakeway area. Clear water, water front homes boat docks. Beats the crap out of LHC on a bad day.
But its a bitch to reach from Cali for a weekend....
shueman
10-20-2006, 07:17 PM
I could suffer with this.... :crossx:
http://www.century21keiser.com/Properties/307%20Cliff%20Circle/87062m_14.jpg
Lake Marble Falls Hillside Estate (http://www.century21keiser.com/Properties/307%20Cliff%20Circle/photos2.htm)
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