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'here's to your health!'
Where is the best place to buy an investment property? Well if you ever watch HG tv and shows like'Flip,Flop' or Bravo tv's 'Flipping it', they would tell you to buy a fixer upper at an auction in a good neighborhood and then flip it(sell it) for a profit. You need start up capital to buy and rehab first home and then after sell and make profit,use it to buy next. Places to consider are vibrant communities with young couples starting a family,yuppies,businesses near,stores on the main street with cafes and restaurants. That is a geneal observation. More specifically, areas in Orange county Caliornia might be a possibility as prices for property are generally high. if you get one for $500,00 and put $100,000 in it to rehab it and sell it for 1 mllion you could still make a profit even if have contractor to pay or a partner. In another show on HGTV, a blonde female is seen buying cheaply 100 year old homes and 'restoring properties to their former glory' with sledge hammer in hand knocking down walls in Michigan and Minnesota areas. Then she sells them.
Building I'm in just sold and new landlord will be living upstairs and collecting rent from 3 tenants below to pay off his mortgage. Just make sure you prescreen your tenants so you don't invite trouble. People who can pay the rent,are quiet,grateful to have a home are best. You need to do your part too though and make necessary repairs.This is in capital region of NY outside of Albany so cheaper than Albany. This is another thing to consider,buying place,rehabbing it and lliving in it with tenants when asking self 'where is the best place to buy an investment property?' Now one could go to a nice place to live like Asheville NC or Portland MN and buy house an old person used to live in that is run down. You have to gut it but still even after the rehab it will be worth it as neiighboring homes sell for alot.
Moving forward, where is the best place to buy an investment property? Outside of Boston are nice areas with large beautiful homes. Could rehab one of those. Arlington,Craig come to mind. Great Barrington,S. Deerfield,MA is are nice areas to consider. Brattleboro Vt,Lee,Lenox,MA. is nice too.Safe,friendly,good school districts,fun places to live are considerations near a city with lots to do and see but yet still has feel of suburbs with woods,mountains,water near parks.
When asking,'where is the best place to buy an investment property?' you may be looking for places to buy a building that has tenants above and store front can rent out below too or you would work at the store and sell your product,services .
All the places listed above are great as people have good jobs,are educated,well to do and have disposable income as opposed to low income areas with high crime and people can't afford to buy anywhere but Walmart. Also would be horrible places to buy a property due to arson,fires,gangs,tenants may have to evict for nonpayment of rent,etc. All headaches don't need as need the process to be as smooth and painless as possilbe no matter which way you go. Need money for all this too and a good job at first making steady income before this takes off,to support this venture. Do your research before you leap as you may think flipping is great but it is a risk like anything as is buying a property. Make sure your neighbors are pleasant and keep to selves as don't want to move some place where have to stay and have problems.
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Where is the best place to buy an investment property? Well if you ever watch HG tv and shows like'Flip,Flop' or Bravo tv's 'Flipping it', they would tell you to buy a fixer upper at an auction in a good neighborhood and then flip it(sell it) for a profit. You need start up capital to buy and rehab first home and then after sell and make profit,use it to buy next. Places to consider are vibrant communities with young couples starting a family,yuppies,businesses near,stores on the main street with cafes and restaurants. That is a geneal observation. More specifically, areas in Orange county Caliornia might be a possibility as prices for property are generally high. if you get one for $500,00 and put $100,000 in it to rehab it and sell it for 1 mllion you could still make a profit even if have contractor to pay or a partner. In another show on HGTV, a blonde female is seen buying cheaply 100 year old homes and 'restoring properties to their former glory' with sledge hammer in hand knocking down walls in Michigan and Minnesota areas. Then she sells them.
Building I'm in just sold and new landlord will be living upstairs and collecting rent from 3 tenants below to pay off his mortgage. Just make sure you prescreen your tenants so you don't invite trouble. People who can pay the rent,are quiet,grateful to have a home are best. You need to do your part too though and make necessary repairs.This is in capital region of NY outside of Albany so cheaper than Albany. This is another thing to consider,buying place,rehabbing it and lliving in it with tenants when asking self 'where is the best place to buy an investment property?' Now one could go to a nice place to live like Asheville NC or Portland MN and buy house an old person used to live in that is run down. You have to gut it but still even after the rehab it will be worth it as neiighboring homes sell for alot.
Moving forward, where is the best place to buy an investment property? Outside of Boston are nice areas with large beautiful homes. Could rehab one of those. Arlington,Craig come to mind. Great Barrington,S. Deerfield,MA is are nice areas to consider. Brattleboro Vt,Lee,Lenox,MA. is nice too.Safe,friendly,good school districts,fun places to live are considerations near a city with lots to do and see but yet still has feel of suburbs with woods,mountains,water near parks.
When asking,'where is the best place to buy an investment property?' you may be looking for places to buy a building that has tenants above and store front can rent out below too or you would work at the store and sell your product,services .
All the places listed above are great as people have good jobs,are educated,well to do and have disposable income as opposed to low income areas with high crime and people can't afford to buy anywhere but Walmart. Also would be horrible places to buy a property due to arson,fires,gangs,tenants may have to evict for nonpayment of rent,etc. All headaches don't need as need the process to be as smooth and painless as possilbe no matter which way you go. Need money for all this too and a good job at first making steady income before this takes off,to support this venture. Do your research before you leap as you may think flipping is great but it is a risk like anything as is buying a property. Make sure your neighbors are pleasant and keep to selves as don't want to move some place where have to stay and have problems.
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