ReCasa Financial Blog
Investment Locations and Property Types
As our seasoned real estate investors know, ReCasa Financial Group, believes it is important that real estate investors invest in properties close to where they reside. There are many advantages to being local, most importantly being able to regularly visit and manage the renovations.
Realtor.com recently released the top 10 housing markets for 2022. These cities include:
1. Salt Lake City, UT
2. Boise, ID
3. Spokane, WA
4. Indianapolis, IN
5. Columbus, OH
6. Providence, RI
7. Greenville, SC
8. Seattle, WA
9. Worcester, MA
10. Tampa, FL
As always, location can affect both value and desirability of a particular property. Depending on your investing strategy, an investor may want to target properties near college campuses which provide a continuous stream of potential tenants. While others that live near tourist destinations, may look for a property to renovate and market to short-term vacationers who are in town for a concert or sporting event.
Forbes released an article in August 2021 listing “four properties perfect for first time investors.” The four types of properties listed include:
· “Single-Family Homes Near an Elementary School”
· “Condos Near Universities”
· “REITs”
· “Properties With Two Separate Entrances”
While most investors focus on urban/suburban areas, there are some potential opportunities in rural areas as well. While the buyer/tenant pool is much smaller in small communities, there is usually less fully updated and renovated property too. As with all opportunity, determining profit margins early in the decision-making process is essential. No one wants to take on a project that is not worth it.
As a real estate investor, what types of properties do you target and have you ever considered projects outside your normal scope?
Comment Section
