Thread: Best areas for real estate investment?

Asking this question for my dad who is looking to buy very soon but is still searching for where to do it. Wants to rent out when we aren't using it so location matters (we live in Cincinnati, OH) We are looking in Tennessee right now, open to recommendations

EDIT- 400k max price range

I can't comment on where in regards to your specific area, but I find that it is best to do it in an area you're familiar with. Investing in a new area is always a gamble because unless you have a great property manager you probably won't be making a whole lot.

Look at rental neighborhoods around you. I just closed on a small building 2 blocks from a university campus here in town and it's a lot easier since I already know how much rent goes for etc... and what people expect.

Talk to a RE agent that specializes in this type of stuff and they can point you in the right direction.

Also, what are you looking to buy? 1 house and rent it out, a triplex, rooming house?

That can help get you better suggestions.

Just a brief summary:

As said above, I would stick to what you know.

There are deals everywhere. If you are looking nationally, it is said that California, Nevada and Florida have the highest % of distressed home owners (Short-sales and foreclosures).

I personally deal in Real Estate in Nevada where in certain local area's there are 70% distressed home owners.

I would also like to point out to pencil before you purchase.

Run the numbers. If you are financing, run total monthly expenses vs potential monthly income. Calculate vacancy rate.

****Just out of personal opinion and not recommendations or instructions on what to do****

I would leverage that 400k, split it up into several units instead of one.


Good luck with your endeavors. PM if you have any more questions.

Sorry the first post was so vague, I typed it up in a hurry

Some options include-

Spend around 400k max on a couple different properties such as apartments and rent all of them out, looking only around the Cincinnati area or local Kentucky/Indiana areas

Get a smaller vaction home or a condo and rent it out, spend 200kish or so

Areas of country we are looking in for vacation places are Tennessee and Florida, but open to suggestions

Also, it most likely not be financed at all

South Florida Condo's.. low prices and FHA just approved more flexibility in financing which is going to help the sales and values go back up

I am now pretty sure my dad doesn't want Florida real estate, he is worried about HOA's and condo associations going bankrupt right now.

Originally Posted by 1slo23

I am now pretty sure my dad doesn't want Florida real estate, he is worried about HOA's and condo associations going bankrupt right now.

HOA's and condo associations are going bankrupt and having law suites nation wide, not just Florida.

If you are purchasing in an HOA or in a common interest community, be sure to do your proper homework.

Good luck

Originally Posted by marcrenonv

HOA's and condo associations are going bankrupt and having law suites nation wide, not just Florida.

If you are purchasing in an HOA or in a common interest community, be sure to do your proper homework.

Good luck

He was just told that Florida was particularly bad, but yes that problem isn't limited too Florida by any means.

Come to az* We have hit the bottom, I'm seeing 900.000 homes for 350.000, you can get 200.000 homes for 80-110.000, ive seen multi million dollar homes sell for millions yes millions less, I see a guy in paradise valley but a 1.4 million dollar home for 750.000 furnished,

Been doing investing in winnipeg for about 2 years now, very strong market and the house prices keep going up at a nice pace. As well as about under 1% vacancy rate, for renting out