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  #1  
Old 12-11-2006, 08:21 PM
HKKenny
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Default What Cities to Invest In

I'd like to get your opinion of your local real estate investment market. I'm specifically interested in

Multi-Family rental property but would love to hear about other investments as well.

I want to generate Cashflow. I'm not trying to do anything fancy. I simply want to buy multi-family homes

with 10-20% down and receive a decent return on my investment. My local market (Atlanta) is becoming

extremely difficult to generate a positive cashflow without more than 20% down or significant investment

in rehab.
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Old 03-07-2007, 01:15 PM
zella
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here are my thought on the Detroit metro

Detroit
there are PLENTY of rehab home here all at stupidly low price the problem is then you have no buyer in the end no-one wants to live in detroit anymore

Surrrounding area
there are alot of home to rehab- as you head out of detroit a little more look at buying 75k tossing in 10k rehab selling at 89-90k (which may be the average for the area) there are plenty of diamonds in the rough here, the further you get out of detriot the more new housing developments are going on .. but the good side there are more forclosures going on in the newer homes less rehab but higher purchase price

Michigan maybe an area to look but with caution, becasue the employment market here is ridiculious... the BIG three auto are all laying off, with many other companies where people are losing thier house or wanting to downsize
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Old 03-15-2007, 06:48 AM
medako
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I would watch suburbs - people are moving out of big cities all the time for the "quiet life". I would also pay close attention to the rates of homes selling and how quickly - as well as basic employment stats. You don't want to be investing in an area that is having major corporation/business layoffs. Cities that are drawing new businesses are a plus. And if you're looking into suburban areas, make sure it's not a long commute into the cities - as that's where many families are looking to settle.
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Old 03-15-2007, 09:54 AM
sub-zero
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In some higher appreciation areas, it's simply impossible to buy for cash flow. Is this the situation where you live?

If that's the case, your best hope is to buy and rehab. That might get you closer to positive cash flow.

I would be aware of proximity to public transportation since that's an important point for some people. Also quality of school systems.
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