What are the best areas in the country to purchase a condo for investment purposes?
I am contemplating areas such as San Diego, Phoenix, Santa Barbara and perhaps Miami or Naples FL. Would I be better off buying a house as an investment?
It will not be a short term investment. If you buy now and keep it for 5-6 years, you’ll make money.
Southern California is a good place. The prices leveled out now and they’ll go up (not next year, of course, but in about 5-6 years.)
If you want to rent out the place, a condo is better because there’s less maintenance to worry about and it’s easier to find renters.)
If you want to be a long distance landlord, you need somebody to keep an eye on your investment. When a customer of mine buys a place through me and rents it out, I act as a manager of a place with no charge to the owner. I do it as a bonus to my clients. Contact me, if you want to talk.
November 30th, 2009 at 7:48 am
anywhere
References :
November 30th, 2009 at 8:07 am
I would wait until the housing downturn is over. Prices of homes and condos are decreasing right now and it will be a little while before they start going back up.
If you buy a home/condo right now, it might lose value. Wait for the bottom to hit and then buy.
References :
November 30th, 2009 at 8:32 am
I have been looking at properties near colleges. many colleges are over crowded & students have financial aid refunds to pay rent. The trick is making sure they will respect the property but I guarantee, there is always a need for that property.
References :
November 30th, 2009 at 9:07 am
It will not be a short term investment. If you buy now and keep it for 5-6 years, you’ll make money.
Southern California is a good place. The prices leveled out now and they’ll go up (not next year, of course, but in about 5-6 years.)
If you want to rent out the place, a condo is better because there’s less maintenance to worry about and it’s easier to find renters.)
If you want to be a long distance landlord, you need somebody to keep an eye on your investment. When a customer of mine buys a place through me and rents it out, I act as a manager of a place with no charge to the owner. I do it as a bonus to my clients. Contact me, if you want to talk.
References :
http://www.century21homes2buy.com