Whats the best place to buy real estate??? TUCSON???

Question

Hey BP,Chistian here, Whats the best place to buy real estate? I was browsing the internet and came upon this article for you interested in good places to invest. If your a investor looking for a partner to invest in one of the hottest markets right now (According to Forbes), message me. I'm not selling anything buy just a newbie looking to invest and maybe be mentored.http://www.forbes.com/sites/morganbrennan/2012/04/...

Victor Menasce · Answer

Apart from the stale article, it's a good question. In my view, real estate is an intensely local business. The best place to buy is where there is huge demand and short supply. Next to a university, a hospital, a new headquarters, a new oil industry expansion.... You get the idea. Make sure you're next to high value property. So when you develop your property, you can borrow some high value from your neighbors.

Jean Bolger · Answer

Account Closed no worries, enthusiasm is understandable, indeed, crucial.Be very wary of anything in the mainstream press about real estate, especially "best/worst" lists. Most of that info is well past its sell-by date, if it ever had value at all. Or the methodology of how they are handling the information is just wrong. For instance, my area (Denver, CO) scores badly on a lot of "liveability" indexes in the weather area because the high temps are so high and the low temps are so low. What that ignores is the fact that those extremes are one week out of the year and the rest of the year the weather is mild and lovely. (just an example)

Joe Villeneuve · Answer

Account Closed SE Michigan...specifically Wayne County. This is according to an article on BiggerPockets in the spring of this year rating this area #1 for investing in Hold/Rental properties.Joe VilleneuveREcapSystemsA2REIC

Jonna Weber · Answer

@Christian Alcaraz - thanks for sharing! Happy investing.

Joe Villeneuve · Answer

@Scott Pigman One of the problems of using articles, and other interpretation of facts is the "take aways" are usually screwed by the author or sources own interpretation.Having said that, when in doubt, I ask someone that is actually doing what I'm thinking about doing. All I can tell you is I'm doing this, and I'm not the only one. On top of it, many outstate investors are doing it as well.This is a gold mine for holding properties.Joe VilleneuveREcapSystemA2REIC

Joe Villeneuve · Answer

@Scott Pigman Being an ex resident, you are aware that the article speaks of Wayne county, and that Detroit may be part of Wayne county, the vast majority of Wayne county is not Detroit. In fact, Wayne county borders up against Washtenaw county where you are familiar with *AA and Ypsi). I don't invest in Detroit, but I do invest in the immediate suburbs and I can tell you that they are cash cows. The perfect mix of low taxes, high rents, and low cost to buy. You can't help but cash flow big. How does an all in cost of less than $50k sound, with a return of $5k in cash flow per year including 100% (cost) financing and a property manager?This area allows the investor top buy/rahb with cash, and refi all that cash back out, still cash flow (as stated in the previous paragraph), and then use those same funds again on the next deal...and keep repeating this until...?Thanks to the news media, I find that too many people outside of this area seem to think Michigan is actually inside of Detroit.This are is the investors dream.Joe VilleneuveREcapSystemA2REIC

Scott Pigman · Answer

I'm rooting for Detroit and Michigan in general. I've lived in Michigan (Ann Arbor and Ypsilanti) and too infrequently return to vacation. I'd like invest there if for no other reason than to have a tax deductible excuse to visit. However, I think the article @Joe Villeneuve cites isn't the best endorsement of SE Michigan / Detroit. It's only measuring the rent to purchase price ratio and doesn't say anything about where the city is headed. Since I can't offer any insight into the pros and cons of investing in those kinds of "2% rule" areas besides what's already been covered in numerous other threads, I won't try. Suffice to say, it ain't for everyone.There are other articles out there that tout Detroit as being on the verge of a big comeback. A burgeoning start up environment being one the big drivers. I really want to believe these kinds of stories. But then again I was reading similar stories nearly twenty years ago when I lived there. I have a fear that Detroit is the city of the future... and always will be. (Please prove me wrong.)

Jean Bolger · Answer

Dude, that article is from 2012.and yes, this I do believe a post like this would count as a solicitation by biggerpocket.com standards so it really needs to be posted in the marketplace forum anyway

Joe Villeneuve · Answer

Account Closed Here is the link to the article mentioned above.http://www.biggerpockets.com/renewsblog/2014/04/01... Joe VilleneuveREcapSystemsA2REIC

Account Closed · Answer

Oh my god! @Jonna Weber Yes it was yours. Your are like borderline celebrity to me. Podcast 80 was the first one i heard. I accidentally downloaded this podcast. I had some REI knowledge but you basically paved the road to me and my families real estate investing strategy. So thank you, My wife and i are wanting to do what you did with your family. Like zig ziggler said, your never know how far the ripples will go in the pond when you throw the pebble