A BETTER PLACE TO BUY
Dec. 2007- Are you dissatisfied with the performance you are getting from your California rental property? I know I have been! Rents have been flat (or worse) for some time now and with the banking/mortgage crisis in full bloom it appears pretty likely that, at best, Silicon Valley can expect to see a flat market and, according to many "experts", a downturn in property values over the next few years. Of course, real estate here will turn around sooner or later but there may be a better option for the savvy investor.
When the market is down most everywhere else, there’s always an area or two that is undervalued with good upside; you just need to know where. I’ve been researching exactly that and have several areas that you might consider. Salt Lake City, Boise, even parts of Washington state come up as good but I believe the best spot in the country today without reservation is Charlotte, North Carolina.
You can enjoy positive cash flow on a rental there with 20% or less down, even using a property manager and with today’s higher rates (which obviously won’t stay higher forever). A 3-6 year old 1700 s/f home the Charlotte GMA costs about $160,000 and rents for $1200. A brand new 3 bd. town house is about $120,000 and rents for $900. Perhaps best of all- you can get in with $35K- try that in San Jose!
Charlotte is home to 9 Fortune 500 companies including Wachovia and Bank of America- it’s the largest banking city in the U.S. outside of NYC. 80% of the U.S. population is on the east coast and predicted to migrate south over the next 15-20 years as Boomers retire (and they don’t all want to live in Florida). The city of Charlotte currently has a population of about 650,000; the Greater Metropolitan Area has about 1.5M and is expected to grow to 4.2M by 2026.
BTW- I am not just suggesting YOU buy property there. All the investment property my wife and I currently own is in the Charlotte area- I practice what I preach.
There are MANY more facts and figures to consider; I’d like to talk with you personally to share more info including how you can get your equity from here to there without paying any taxes in the process. Please give me a call (241-1133) or send an email to email@example.com. In addition, please take the time to read through the information @ link below; very good info and a bit of reading but WELL worth your time:
Once there, be sure to request a free copy of the “White Paper Research Study” that the NC developer has compiled; you’ll find the request towards the bottom of the article.