Where the Experts Like Nate Armstrong of Home Invest See Opportunity
According to Nate Armstrong of Home Invest, real estate investors must research deeply on properties, contractors, and other necessary information before buying a house. The best areas to purchase real estate property for equity and cash flow growth often have particular aspects in common: population growth, job growth, and affordability. Once you find an area that has these specifications, consider investing in that locale as soon as you can. These characteristics still exist in many U.S. areas, locations where you can purchase high cash flow property and watch as your equity grows. This article will highlight some of these locations. Read on to find out what factors makes them good places to invest.
Orlando, Florida
The market demand for family homes has been increasing for a while in the state. It is still possible to purchase fully renovated real property in nice Florida neighborhoods at friendly prices. Even more fascinating is that, despite the unbelievably low housing prices across the state, most home seekers have opted to rent instead of purchasing. As a result, this position has caused rental rates to increase.
Other than the good cash flow, values are skyrocketing in this area with no indications of decelerating any time soon. The prevailing prices are nowhere close to 2006 highs because builders cannot make good profits at the prevailing price points. Insurance and property taxes are low; plus, the state does not impose any income taxes. Consider the warm weather and good healthcare in the state, and you can imagine why over ten thousand baby boomers are moving to Florida every day.
Orlando ranks as one of the best locales to buy real estate property in Florida as of 2018. Located across the state’s Sun Belt region, the area is popular for its warm weather, entertainment, tourist attractions, beautiful beaches, and renowned amusement parks.
The area has a combined population of over three million residents. For this reason, the city’s real property market is motivated by baby boomer retirees, job seekers, and students who wish to live in a cheerful and cheap location that promises high-quality life at a reasonable cost.
Pittsburgh, Pennsylvania
The Pittsburgh Metropolitan is the 22nd largest metro area in the U.S with a total population of over 2.3 million people. Pittsburgh is widely referred to as the City of Bridges due to, unsurprisingly, its many bridges. It is also home to a number of large corporations that assist in growing and moderating the metro’s economy. Pittsburgh economy does well on education, healthcare, robotics, technology, financial services, film production, and glass.
Moreover, the region is well known for the production of natural gas and oil. Also, given that the city is home to prominent financial organizations like PNC Financial Services, Federal Investors, and BNY Mellon, Pittsburgh promises to be a good area to invest in real estate.
Pittsburgh Post-Gazette ranks the city as one of the best places to invest. The list also considers Pittsburgh to be one of the best markets for growth and redevelopment. Additionally, according to RentRange, rent costs for homes increased by 12.6 percent in 2018. That is why the metropolitan might be the best place to purchase real estate property this year.
Huntsville and Montgomery, Alabama
Huntsville is about 90 miles north of Birmingham. Founded in 1811, the city is well known for its deep Southern heritage and a number of space missions. The city in Alabama is referred to as the rocket city due to the Marshall Space Flight Center that enabled Neil Armstrong to walk on the moon.
Currently, Huntsville ranks as one of the most popular cities in the Southeast area of the country. According to USA Today, Huntsville is one of the top cities that is prominent in the economic recovery. Also, Money magazine considers the area to be one of the most affordable cities in the nation.
Huntsville offers a great opportunity to real estate investors. The city is one of the most affordable markets in the U.S, it prides itself in a steady job market, and has an ever-increasing population. These are good indications for real estate investors interested in generating passive revenue.
The real estate sector will likely continue improving in terms of demand and interest rates. However, it is still important to execute due diligence while purchasing real property. According to Nate Armstrong from Home Invest, the Home Invest platform is the first application on which investors can choose their property, select a contractor, and choose a property manager to ensure that homebuyers have an enjoyable experience while they build their passive portfolio.