West Coast V Mid West investments
I've travelled all over America in my 5years and I try to meet and stay in contact with as many people I can in my adventures. I had an interesting Facebook feed pop up from a friend in San Fran, she often has some great reads about whats happening in San Fran housing.
Article cabe found here: http://bit.ly/1PuaRdG
Quick summary its a "cheap dirty run down house (not livable conditions) for the low low price of $35000" Which is currently asking for highest and best this Thursday noon. Knowing the San Fran market they will go for way over asking price. The housing market is crazy and not only can you not get finance for this property, meaning your out at least $350,000 from the gate. You're going to have to invest a lot more to tear down and rebuild.
BUT WHY? when you can invest that $350,000 into a city like Cleveland OH with that cash you can buy several SFR, or Multi-Families or even commercial apartment buildings. Best of all you don't need $350,000 cash, the properties listed daily by Holton Wise Property Group are rent ready or require very little work meaning conventional financing is available. Less money out of your pocket meaning more properties and high Cash on Cash returns.
Just a sample of what Cleveland has to offer:
Comments