Dear Gid,
There are plenty of spaces left to grow your realesstate business, and some are not that far from home.
Here are five top markets based on value to price ratios and analysis of the effects of the so called bubble:
From Realestat Mogul Barbara Corcoran, the following five markets were recently highlighted on Good Morning America:
- Enid Oklahoma
- South Bronx NY: Check it out at the web link I give you.
- Sitka, Alaska
- Jacksonville Florida
- Oxford Mississippi
http://abcnews.go.com/GMA/story?id=1493575
Interestingly, I would also like to recommend:
1. Central NJ, especially the corridore between NYC and Dover along route 30, route 206, Route 68.
These areas are prime locations for person centrally situated between DC, NYC, Philladelphia and the shore. IT is easy access to 3 major airports (PHL, EWR, ATL). It is also easy access to the following confluence of transportaiton systems: Rail, Air, and routes 206, 130, NJ Turnpike, PA Turnpike, and 295. Compared to NYC the properties are much cheaper, and people are migrating here from NYC and DC.
2. Miami, Forida. though it is a bit pricy, it is growing more than and is in growth competition with NYC.
3. Las Vegas, NV is another growth location with low property values by clomparison. (LV does have its expensive neighborhoods, however)
4. Phoenix and Scottsdale Airizona: wow, cost of living is low, property growth is high. These are growing communities with room for more.
If you are having trouble deciding, you could do what the famous Jim Rodger did. (Jim Rodgers is a multi-millinaire, did I say billionaire?) He needed to clear his head and find out where to put his life efforts for the rest of his life. He was a floor broker, who left the stock market to start and manage the worlds largest hedge fund. He went for a world tour, visiting 128 countries, for no other reason, than to get an on the ground view of the economies of the world and experience the productive cycles. He returned from the trip, with copious notes, and stated another first...the worlds first and still only, international commoditeis index fund, that person with as little as 40,000 net worth and 10,000 dollars can join.
So what I might suggest, is not a world tour. But, a tour of the U.S. to some of these places, and maybe a few others. Take some time to clear your head and evaluate where you would be best served. You may find your heaven, next to home.
Oh yea...don't forget upper and lower darby pennsylvania. Their townships have just formed strategic alliances to refurbish the economic infrastructure and industry of their areas. rental unit occupancy rates are high and new units being built all the time. Office space and industrial park growth is on the mend and housing there has a slight edge in terms of demand.
__________________
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Edward M. Johnson
