Las Vegas or Arizona?

[Chris F.]

Being in California I'm of course looking elsewhere to invest, and I've considered vegas as one option. The other option I've looked at is Arizona- Phoenix- maybe Chandler area, which seems to be up and coming. Anyone else investing in Arizona? Any potential there?

I'm looking to do buy and hold, providing the cashflow is there, but I'm trying to get a feel for the market- vacancies, employment,etc-anyone?

[Douglas Christian]

Chris

As far as the mid west like Detroit and surrounding areas. We are not finding the problems that you speak of concerning the big three. People no matter what will always need a place to live. Your job is to find the most viable place to invest your cash and get a GOOD return.

I love investing in Michigian. I live in North Carolina. I invest in three states and I have not had any of the problems that you are speaking about. You first have to get your mind ready and stop reading all the HOOPLA about appreciation and decline in market.

Well if you know anything about investing that is when you want to invest in a down market. You pick up GOOD properties CHEAP and then you put a LEASE OPTION tenant or RENTER whichever you prefer and let them pay for your investment.

Just purchased one in Detroit. Paid $5,500 Nice 3/1 with basement. Needs about 10k in repair. So I am in this house for $15,500 and I can rent it out for $600 mth.

But, I won't. I will put a 100% owner financing sign in the yard and advertise it where I know that I have had success and I will owner finance someone who has had some credit issues. This is the way you make money not continually speculating on what the BIG 3 will do.

Just seems to make sense to me and anyone else who understands real estate. I think what you all have gotten accustom to in Cali, Arizona, Vegas and Florida is all the nice weather and the FAKE APPRECIATION and now it is coming back to bite everyone in the butt and they are SKEPTICAL and PARINOID about everything. I will take what I have set up any day whether the BIG 3 FOLD or not.

I am the Warren Buffet believer that when all of you were trying to make the money that you made. I was really skeptical then and now that, that time period is over you see who the REAL PLAYERS are in the game. When people can't get financing or when the house you purchased for $150k is only worth $95k. What do you do?

Well continue to read and continue to SPECULATE again about the appreciation factor and I'll tune in a few yrs from now when the market corrects itself and see if you have jumped in and OVERPAID for the same piece of property that you could have gotten for pennies on the dollar.

SUCCESS BREEDS SUCCESS