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Old 02-15-2009, 05:06 PM   #1
Kard63
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Where is the best place to invest in real estate? (preferably in USA)

Being able to reliably predict a quick return isn't as important to me as betting on something safe. If you have something in mind that has very good odds of making a good return but you arent sure if it will take 5 or 10 years that would be better than something higher risk that "should" pay off in 5 years.

Given my outlook above where would you suggest I buy a house or condo? I want to pay a property management agency to do everything. I want to pretend like I don't own it.... well, I don't want to do shit.

It probably has to be $300,000 or less.
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Old 02-15-2009, 05:08 PM   #2
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Right now you can't lose in Vegas... housing market is very low. You can buy a house now for about $200K that was $400K about 2 yrs ago.
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Old 02-15-2009, 05:10 PM   #3
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23k acres on san saba to push cows and grow okra (very resiliant) and jalapenos = yes.

0.5 acre in orange county with granite countertops and a media room = not so much.

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Old 02-15-2009, 05:12 PM   #4
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Right now you can't lose in Vegas... housing market is very low. You can buy a house now for about $200K that was $400K about 2 yrs ago.
I'll take a look, thanks!


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23k acres on san saba to push cows and grow okra (very resiliant) and jalapenos = yes.

0.5 acre in orange county with granite countertops and a media room = not so much.

I don't think I can get either of those for $300,000.
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Old 02-15-2009, 05:14 PM   #5
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Here in the South Bay Area - san jose, california... you can find foreclosed homes here for less than 300k in fairly good neighborhoods, spend a small amount having it fixed up and either rent it out or sell it right away for a good profit... Wont take you long to sell it or find a renter.
If interested hit me up...
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Old 02-15-2009, 05:16 PM   #6
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I have tons of property leads local to me that are being sold right now. I know for a fact that if they were cherry picked (not hard) each of them would get rented for more than the mortgage costs (assuming good credit for good rate) along with other costs such as property tax and a 20% vacancy buffer.

The risk itself would be minimal. You would see a return each month, albeit small. However you would not recover your investment anytime soon as I am assuming a 30 year fixed. The renters though would be paying for the property, plus any potential equity build up. The number you do would be based on how much you wished to leverage yourself since you would just need 20% plus closing on them. Most have a full purchase price between 90 and 130k

I am sure there are many places like this all over the US. I also would not advise being fully hands off though.
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Old 02-15-2009, 06:11 PM   #7
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theres houses here outside of detroit that you can pick up for $10-20k and put less than 10k into then rent for 750-850 a month with your taxes insurance costing you $250 or so a month. heres one that i just fixed up to sell that i have under 50k into total, which is fixed up too nice for a rental, but could have been fixed up for rent for about $35k total.





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Old 02-15-2009, 06:20 PM   #8
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oh, but to answer your question i really dont think its that good of an idea to invest in property that you cant drive to when you need to. i dont think i could trust some property management place unless it was someone i knew very good and trusted.
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Old 02-15-2009, 06:22 PM   #9
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Right now you can't lose in Vegas... housing market is very low. You can buy a house now for about $200K that was $400K about 2 yrs ago.
Sounds like a good deal.
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Old 02-15-2009, 06:24 PM   #10
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Right now you can't lose in Vegas... housing market is very low. You can buy a house now for about $200K that was $400K about 2 yrs ago.
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Old 02-15-2009, 06:27 PM   #11
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Fantastic location, the gentleman in my avatar says buy now. After you buy hit me up for a quote on one of these so you can visit your property.



Quote:
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theres houses here outside of detroit that you can pick up for $10-20k and put less than 10k into then rent for 750-850 a month with your taxes insurance costing you $250 or so a month. heres one that i just fixed up to sell that i have under 50k into total, which is fixed up too nice for a rental, but could have been fixed up for rent for about $35k total.





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Old 02-15-2009, 08:00 PM   #12
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Fantastic location, the gentleman in my avatar says buy now. After you buy hit me up for a quote on one of these so you can visit your property.

Is that really near Detroit? wtf
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Old 02-15-2009, 08:07 PM   #13
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Funky little thing
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Old 02-15-2009, 08:15 PM   #14
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I saw they were selling houses in Detroit for $150.00 on some website awhile ago
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Old 02-15-2009, 08:15 PM   #15
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Is that really near Detroit? wtf
middle class suburbs of detroit, which arent dangerous.
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Old 02-15-2009, 08:19 PM   #16
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There are a bunch here in NC that have been foreclosed on.
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