Preaching to the CHOIR with me.....I've had real estate agents with clients who want deals and are asking where and what to buy. They are calling me and I am more than happy to point them to 4 bedroom homes in with 2-car garages in desirable school districts!
As the housing crisis continues and home values remain stagnant, more and more people are being pushed into renting. And while this is terrible news for those who are currently enterting foreclosure proceedings, or have already lost their homes, the upward trend for the rental market creates an opportunity for those looking to purchase investment properties.
Today on my CBS Moneywatch blog, I closely examine the Top 10 Cities to Become a Landlord, according to Local Market Monitor, a North Carolina-based firm that specializes in forecast real estate prices.
Some of the criteria used in the survey include:
- Average Home Price (2011)
- Projected Home Price (2014)
- Gross Rent (2011)
- Projected Gross Rent (2014)
So what are the cities on the list? Everything from known foreclosure zones like Detroit and Las Vegas, to less expected locales like Warren, Michigan and Bakersfield, California.
Do you live in one of these landlord favorable towns? Do you want to?
For a full list of cities and the reasons why they make the cut, click here to read the complete article.
Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com and The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.