US Property

[bamboo]

Which is a better State to purchase for distressed US property ?

I have been receiving ads on buffalo,NY and detroit,MICHIGAN even....

Anyone's opinion on buffalo and detroit property ? High return but not a preferred state for investor right ?

 

[aptmav]

Hello Bamboo
I have invested in Buffalo and I would say that it is a coin toss between the two Cities (Buffalo & Detroit). I do know that properties are very cheap in both places. I would encourage an out of Country Investor to look into markets like Kansas City, MO. St. Louis, MO. Dayton, OH, these are areas with better economies overall and the ROI are pretty good too. I have been in those markets and they have been pretty good. I prefer Multifamily property better.

 

[Tandem Realty]

I answered this on another thread as well, but I'm from Detroit, and I'm hearing great things about the city and the market overall in Michigan. Prices are increasing.

 

[Susanna Cooney]

The thing that is appealing to me about investing in Buffalo, is that it is a college town/city of sorts.

With a population of about 270,000 with about 50,000 of those people being enrolled into one of the 12 colleges that exist in this relatively small city.

Assuming that you are investing for the purpose of rental return (as is the smart way to approach investments into cheap us rental markets) then having an abundance of college students around is ideal.

Students are willing to pay higher rents than than other residents, rent is often being paid by one's financially stable parents, and they tend to be easier to deal with in general then other residents of area in which you can buy and rent very cheap houses.

This is my feelings.

Any thoughts?

 

[rby421]

I'm an apartment investment Realtor in Saint Louis. Relative to the coasts and other parts of the country, the Saint Louis real estate market is fairly stable. You don't see the extended bubbles like you do in other parts of the country, so when the market does fall, it's not quite as severe. Depending on where you buy in Saint Louis, your looking at cap rates as high as 20% (rougher areas). I just sold a 48 unit building in a rougher part of South City for about a 15cap. When compared to an area like Clayton (Saint Louis suburb with a fair volume of multi family property) your looking at closer to a 6 cap. An area like clayton is more of a long term investment where property values tend to hold and appreciate over time.

 

[whpmc]

The thing that is appealing to me about investing in Buffalo, is that it is a college town/city of sorts.

With a population of about 270,000 with about 50,000 of those people being enrolled into one of the 12 colleges that exist in this relatively small city.

Assuming that you are investing for the purpose of rental return (as is the smart way to approach investments into cheap us rental markets) then having an abundance of college students around is ideal.

Students are willing to pay higher rents than than other residents, rent is often being paid by one's financially stable parents, and they tend to be easier to deal with in general then other residents of area in which you can buy and rent very cheap houses.

This is my feelings.

Any thoughts?

Very true. There are several colleges in Buffalo, which make it a great place to own rental property. You haven't specified your reason for purchase, but if it is to earn through rent then Buffalo is what you're looking for.

 

[adrianacyrus]

You need to know first the cost of living on those area. NY is definitely high.

 

[Florida Realtor]

New York is definitely better in terms of the market scenario. The New York real estate market is on a rise. When compared to the other states in US, it is doing well and investing there has the lowest possible risk. The market was also stable when the prices of other places had fallen. So you can go with it. Its a safe bet.

Miami ranks 8th in search for homes
Published: May 16, 2012
Miami ranks eighth in the the quarterly ‘State of the Housing Market’ report’s list of top searched cities by those looking to purchase a home.

 

[PMVnetwork]

States for good property investment

In current time there are so many Impressive offer for the buyers of a residential property in your selected area…hope you can find best deal in your suggested state. I personally believe that you can invest in Detroit or in MICHIGAN states. Or you can find property management leads team which will guide you.

 

[USpropdealer]

The basic principles for a succesful property investment apply anywhere in the world:

1) Increasing population
2) Limited housing supply
3) Reliable management

Unless you can tick box all three of the above, the property investment may not be as successful as you had hoped for.

 

[nguyenanh422]

In current time there are so many Impressive offer for the buyers of a residential property in your selected area…hope you can find best deal in your suggested state. I personally believe that you can invest in Detroit or in MICHIGAN states. Or you can find property management leads team which will guide you.

 

[strikermt85]

Las Vegas for sure. Vegas is one of the most expensive properties but instead of it, somehow i make it possible to get home distance 15 km near to the city. I was so happy with my new home as i know it is much more worth of than i spent on it. Contact you new short sale realtors for some deals. You should not miss it. Good luck

 

[Drew Drew]

Be careful when you discuss Detroit The city itself has many challenges and is definitely high risk, high reward. One of Detroit's biggest challenges is supply & demand. The city government estimates there are 40,000 homes in the city that need to be torn down and the population keeps shrinking.

The Metro Detroit area though is growing and presents lots of opportunity!

 

[skyavenue89]

Brickell Condos

I think Florida is a good state for invest money.there are good location and weather also good apartments and land space.

 

[Drew Drew]

Not following the vague post...

 

[Drew Drew]

The city of Detroit, Michigan is a high-risk, high-reward type of an investment. This is especially true for the advertised properties most investors will see on the internet.

The Ring Suburbs around Detroit though, have very good opportunities with quite a bit less risk. You still have to be careful though and you should have an independent third party inspect any property before you buy it.