200 to 300k investment.

[J.o.h.n]

Hi Guys

Im thinking of buying a place for about 200 to 300k(my budget)

I want to rent it out, so would like an area where this would be possible.
It would also be nice to make some when I eventually sell it.

Which would be the best cities?

Thanks in advance.

John

 

[J.o.h.n]

Thanks for the reply.

The property/properties would have to go through a valuation process from the bank, so auctions would prove difficult.

Ive been looking at some places on the Bank of America foreclosure pages. What d you think of going through them?

Thanks

John

 

[miles2152]

You can get a lot of house for your money in the South. Where do you currently reside? Managing a rental property in an area you do not live in can be difficult. Like everything else, rental rates are down as well right now and managing a rental property from a distance may require you to hire a property management firm which can cost as much as 5%-10% per month.

 

[cfifan]

If you are looking to invest in property they my recommendation is to make sure you do your homework and source a good management company first. Otherwise you could end up with a property that is not rented out and generating. Orlando will always be a great investment simply because of Disney and the influx of tourists not only from throughout the USa but also all over Europe. The key to success is finding a property which offers the discerning renter everything they desire and a nice community with of course, location, location, location. Your budget would certainly find that, but your budget could also find you a great home targeted at the long term rental market (1yr lease).

I hope this helps

Nick Naoum
deleted personal info

 

[J.o.h.n]

Thanks guys!

Turns out I cant get the loan, so unfortunately my budget in down to 100K

Will keep looking.

 

[sugarmaple]

Vermont investment(s)

John, that figure could still work for an investment property.....
Amy

Thanks guys!

Turns out I cant get the loan, so unfortunately my budget in down to 100K

Will keep looking.

 

[Itchy461]

John- Are you still there?]

 

[Jason Terry]

Hi friend,
If you want to buy a house in between $200k to $300k, then I will suggest you for India because in between these amounts you will get a better home that other countries.

Thanks

 

[oregon woodsmoke]

300k will get you a house almost anywhere in the USA, except for the very high priced big cities like New York.

For 100K, if that is US dollars, then you want to consider the south. Get out a map and anywhere from North Carolina down, through Florida, and across the bottom of the country to include Texas.

If that is 100k in pounds, you can include Oregon, Arizona, Utah, and New Mexico in the search.

I recommend that you concentrate the search in areas with good weather and some sort of source for reliable jobs. Also, areas that offer recreational opportunities are usually good areas for investment.

Rental rate returns are better in the southeast. Potential for appreciation is much better on the western end of the USA.

 

[vacation]

i would like to tell you just search a home website and find there what they provide.

 

[CrisR]

I recently bought a house in Lancaster, CA for 95K. The payments + interest end up being less than $500/mo. I am currently renting the house out for $1,000/mo. Not bad.

 

[cael]

Hi John,

What are you looking to get from the house, high rental return, capital growth etc. I have a number of properties in the USA and I mainly focus on high rental returns and get between 25%-27% gross. I have been investing in the US for 8 years now. I am in Sydney Australia and I have one of my property managers coming out next week to Sydney. If you would like to meet with him we could give you a run down on my strategy and how we manage my properties over there.

My mobile is +61430800399

All the best

Mark