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Has anyone considered investing in another housing market?
invite response
2012 Nov 20, 7:42am 3,233 views 2 comments
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B.A.C.A.H.
2012 Nov 20, 2:16pm
Because I cannot be sued by a tenant nor harassed by his homies. Because the fees are low and transparent. Because the equity is very liquid and because there is reliable income. Because I can borrow against it if I wanted to (it's called a margin loan). It is boring and I am sure all the smarty pants will tell me how stupid I am, it is the Vanguard REIT.
If you like the housing market you're currently investing in, tell us why you like it.
I wouldn't invest in any market that I hadn't lived in several years. Had property in upstate NY and Oregon but sold because of lack of good property management and strong tenant bias in housing laws. I only own in south Tx now. Landlord friendly laws (or at least reasonably fair), very good ratio of price to rent, low housing prices, property management is very common and there are many really good property managers. Maintenance and lawn service is really cheap Downside is that property taxes are higher than some places, but I don't find them out of line with OR, WA, or NY. Right now there seems to be some glut of rentals in the middle market, but I'm in the upper end and don't have any trouble renting.
Because the return in your market is mediocre? How did you choose the new market? How is it working out for you so far? What would you do differently if you could do it all over again?
Or for those investors that want to move to a different/better market, but haven't done so yet. Where do you plan on going and why? Do you have a definite plan to move?
If you like the housing market you're currently investing in, tell us why you like it.
Thx. :)
#housing