HOW TO FIND A REAL ESTATE MARKET TO INVEST IN—HOMES FOR SALE VALLEJO—Real Estate Investing Solano County
If you are thinking about becoming a real estate investor, you need to do a little market research. How do you determine what is a good market to invest in? You need to look at employment trends, migration patterns, population patterns, immigration trends, rent vs. buy trends and distressed property trends. In this blog, we are going to look at buy vs. rent.
Overall, what you are looking for is a real estate market that has been beaten up a little, but has long term potential to grow your investment. Most people who live close to Solano County understand that it fits this bill pretty well. A trend that we have noticed in our real estate office is that when an open house is held, the mass majority of visitors are out of county. They are coming from as far as 50 miles away to look for property. Some want to re-locate, but many want to purchase investment property.
Due to the large amount of foreclosures we have had in this area, there is a large segment of our population that are still employed and bringing home better than average pay, but they cannot buy a home right now due to negative credit scores. They are used to paying a big mortgage, but got frustrated at paying for a $500k mortgage on a home that is now worth $250k and they walked away. It doesn’t mean they don’t have the income needed to pay rent though. And they are in a position that they HAVE to rent.
This is great news for the new real estate investor.
Trulia has a nice tool that allows you to view the Buy vs. Rent (not rent vs. buy) rations for your area. In these areas it is cheaper to buy than rent, but due to low credit scores many people cannot buy. Here lies the opportunity for you. Rent are higher than mortgages, this could mean a positive cash flow for you.
Real Estate Investing for Solano County provides information needed for you to become a real estate investor. Education and understanding of real estate investing should be done before you go out looking for property. Solano County real estate provides first time investors great opportunities to experience growth in their real estate investing business. Check out the City of Vallejo.
To view what is for sale in Solano County, please visit my website.
For more information on understanding real estate investing, please visit our investor’s center.
Click here to look at economic trends for Solano County.