where would you invest $150,000 for buy and hold?

[Account Closed]

Hi everyone!

My name is Rudi and I've recently moved to the US from Australia. I've got about $150,000 to invest in some buy and hold properties and looking for some advice. At present I'm considering:

- Pueblo, Colorado

- Garfield Heights & Maple Heights, Ohio

- Montgomery & Huntsville, Alabama

The reasons for these are that property is still fairly cheap (homes can be bought for under $60k) and returns seem to be around 15-20% gross depending on the home / market.

I live in Colorado so Pueblo is the closest market to me but some of the above have even better returns. I'm not afraid of owning property out of state as i own real estate in Australia currently 

So, my question is, can anyone with specific knowledge chime in regarding the above and secondly, are there other areas around the country with similar opportunities that I should consider?

Ideally i'd like to buy between 3-4 properties and then grow from there.

Many thanks for your help!

Rudi

P.s. if anyone is interested in investing in Australia i'd be happy to help - i don't have knowledge of the US market but have about 15 years experience in Australia.

[John Patton]

I like Huntsville and anything within 50 miles including Cullman. People in Cullman work in Birmingham and Huntsville (federal money & high tech & auto). Same way with Clanton Alabama. People there work in Montgomery (state money) and Birmingham. Baldwin county across bay from Mobile has been going big last 20 years. Auburn and Tuscaloosa college towns but students scare me. Don't know enough. Florence area is good. Parts of Mobile is good 12th largest seaport in country direct shot to Cuba.

Stay away from any area depending on coal miners. No work for them.

Good luck JP