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  1. #1

    Question Best Upswing cities

    Hi, I am British, looking to make investments into maybe 3 houses in the US at prices of say between $150-220,000, with the aim of capital gain over next 5 years or so. The US economy seems the best bet at the moment. I may be a little late, seen that most markets are already on the upturn, but I would appreciate opinions on regions to consider. The idea is a house or condo in good condition so that I do not have to go to trouble of maintenance from abroad.
    Last edited by Tgov; 05-09-2013 at 09:08 AM.

  2. #2
    Join Date
    Jun 2013
    Location
    Memphis TN
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    141

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    If u r buying banking on growth then almost any market is going to be a crap shoot.
    You are too late for Phoenix and Atlanta but at your higher price point my pick would be San Fran. Solid rents, lots of newer homes and good growth prospects.

    For some general advice at that price point avoid smaller markets and any area without a good mix of Pink, white and blue collar industry. We have a lot more pain to go yet I believe so you want to be in a diversified job market larger city.

  3. #3

    Default

    Thank you. San Francisco had been on my radar but for the prices. Very few choices even at the top of my range, but nothing stopping me from rearranging the "eggs in the basket". Seattle as well.

  4. #4
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
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    2,443

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    You are too late for Phoenix and Atlanta
    MTP hwy are you saying that it is too late for Atlanta, i know people who still buy well there..

    or have i misunderstood you?
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  5. #5
    Join Date
    Jun 2013
    Location
    Memphis TN
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    141

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    Orkibi the hedge funds have pushed values to over leveraged levels so people think they are buying well but are in fact paying too much and risk further devaluation when the funds leave. People are buying low yield in a cash flow city banking on further appreciation. I know a number of good wholesalers who have pulled out of the market completely due to inflated values.

  6. #6
    Join Date
    Sep 2004
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    Central Otago, ChCh, AKL
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    Thanks MTP,

    So whats the news about Memphis?

    i know of investors still achieving 15% gross or 9%-10% net in eastern suburbs.
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  7. #7
    Join Date
    Jun 2013
    Location
    Memphis TN
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    We get minimum 10% net. Gross varies a lot depending on whether there are city taxes or unincorporated. We are getting better deals now than ever, but we do have to look harder for them these days! There is not much competition in the high b's and low A's so a lot of our business is in that strata now.

  8. #8
    Join Date
    Sep 2004
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    Central Otago, ChCh, AKL
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    Which suburbs are high Bs or low As and what vacancy rates would you work on?
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  9. #9
    Join Date
    Jun 2013
    Location
    Memphis TN
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    Not sure what you know of our market, we work on zip codes but even in each zip there are good and bad parts. Parts of 38115, 38118, 38119, 38120, 38125, 38133, 38134, 38135 are all good. Vacancy long term should be under 10%. In good areas you may even get down to 5%. HOWEVER it can take months sometimes to get the right tenant into a property so you have to be prepared for that. But over time 5 to 10% is about right in decent areas.

  10. #10

    Default

    Peoples are still buying houses in the Phoenix Arizona area due to a strong local economy and a large influx of new residents. Real Estate is a booming market you should definitely consider.


 

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