This article comes from John Larson on https://www.forbes.com/ that goes over the benefits of Real Estate in good areas.
Rentals are a great stream of income as long as you have the right property for your portfolio. Purchased a home for a couple in Vegas in the Kamms Corner area, we leased the home for $1100 (that was what the projected amount ) and the tenant has paid every month and is renewing their lease. The tenants are working professionals that just are not ready to buy, but have great credit. I can tell you many other homes we have done that has exactly the same story.
That is cash flow, buying in an area that creates quality tenants and equity growth.
Cleveland and Phoenix has a lot of excellent areas to purchase real estate and have a good long term equity growth. Cleveland you can get instant equity and watch you asset grow in value after you rent it. The buy and hold strategy is the best way to grow your wealth today. With the home prices going up and people buying homes. The mortgage industry is doing a great job of getting quality mortgages and there will probably not be a lot of bad mortgage paper in the future. That is the key to a strong real estate market.
"3. Appreciation: Choosing the right market to invest in is crucial to a successful, long-term real estate investment. Before viewing properties, you need to look at the community’s potential growth and see who else is investing in that market. Again, the DFW and Houston metros are headquarters to almost 10% of the Fortune 1000 and over 5% of the Fortune 500 companies. The DFW metro also has a booming health care industry and is pulling people in at an exceptional rate, adding 146,000 residents from 2017 to 2018."
Cleveland and Phoenix is areas a lot of investors do not look at close enough. Cleveland has cities that are jammed pack with good industries and others being built. The amenities and community is super important in your decision making. Phoenix is also a great place to park your money and watch your Appreciation grow. As an investor in real estate do not overlook this part of your overall equation of buying a income property.
We have purchased 100's of properties for clients...want a second opinion? I'm Brett Call
216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona.
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