Over 90% of the world’s millionaires made their money thanks to investing in real estate. So if you want a piece of the action, the best time to get started is right now.
Like most investments, you can just as easily lose everything in the process. So, it helps if you get started on the right footing.
Here’s where to invest in real estate this year if you want to get off to a good start.
1. Boise, Idaho
Bosie has a long history of offering excellent value for investors. Realtor.com ranks Boise as the number one housing market in the US for 2020.
Supply and demand in Boise drive home prices up in Boise, so if you invest in property today, there’s a good chance you can make a tidy profit if you sell it in the near future.
2. Houston, Texas
As the epicenter of the country’s oil and gas industry, Houston’s always been a good choice for real estate investors. Houses are expensive here the real estate market’s extremely active.
The average rental in Houston’s relatively low at $1,550, but you can count on always having a tenant for your home.
If you can afford to buy property in this exclusive environment, you’ll have no problem selling it fast at a tidy profit either.
3. Orlando, Florida
Orlando’s long been the darling of the property investor. This thriving tourist and retirement destination offers boundless opportunities for both short- and long-term rentals.
Orlando’s economic stability’s growing in tandem with its thriving tourist industry. In turn, this translates to more employment and increasing competition for rental properties.
4. Chicago, Illinois
Chicago properties are an excellent choice for astute investors. The city’s home to numerous Fortune 500 companies and over 50% of the population rents their homes.
Employment’s very high in Chicago and you’ll achieve some of the best rentals nationwide if you rent your home in this city. The average income from a two-bedroom apartment is around $1,300.
5. Indianapolis, Indiana
Indianapolis is a great choice when you’re getting started with real estate investing. The city’s spent a small fortune on revitalizing itself and is currently considered one of the most livable cities in the USA.
Housing costs and the cost of living in this area are well below the national average and entry-level properties are affordable. You can expect to pay as little as $80,000 for a home in Indianapolis and the average rental’s around $1,172.
The Basics About Where to Invest in Real Estate
Naturally, the best locations for real estate investment change every year. You can ensure your investing success by sticking to these basic real estate investment tips.
Keep tabs on growth trends and look for places that have high occupancy rates. Less available rentals mean you’ll have less competition for tenants and you can demand higher prices.
Stick to basic principles of supply and demand and you can’t go wrong with real estate investing.
We’ve got you covered when it comes to home-related topics, from where to invest in real estate to the top tips for selling your home fast. Keep reading.