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Where is the hot spot for investment property for out of state investors?

Asked by , Wed May 11, 2011

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That depends on what kind of investment properties you are looking for. If you are looking for cash flow properties, then apartments in Salinas, Seaside, Marina would probably be best depending on circumstances. If you are looking for long term appreciation/vacation rental type properties, Pacific Grove, Pebble Beach and Carmel are probably best. Monterey county has two totally different markets that create different opportunities depending on your investor.
0 votes Thank Flag Link Wed May 11, 2011
Have you ever considered Long Beach CA. Beautiful properties along the coast and great neighborhoods including, Belmont Shore, Belmont Heights, Naples and more. If you are looking for low cost properties that are beachfront and/or very nearby, Long Beach CA is the place to view. Let me know if I can be of any help.

Lou McNamee
Coldwell Banker
562-879-9677
Web Reference: http://loubandb.com
0 votes Thank Flag Link Wed May 11, 2011
No doubt the best investment is a place where you can buy low with the potential to sell high and while waiting to sell you can obtain high rent in a area where rentals are badly needed. The answer to your question no doubt is Salinas.

I happen to have a few properties I manage as well as my own personal investment property and recently I had a vacancy for a 2 bedroom, 1 bath house (under 1,000) sq. ft. and I received a lot of calls of people needing to find a rental. Salinas is a area where all types of people have lost their homes and they all need a place to go to. A lot of ex home owners are now having to deal with being a renter after owning a home for many, many years. A lot of them have no other issues with their credit besides losing their house therefore; it is a excellent rental market.

Salinas is the largest city in Monterey County and Monterey County is a very large county. It happens to be close to the coastline therefore; prices have gone up at a steady pace considering how low they have dropped down to. All surrounding areas are good investment areas but Salinas is the one area where the prices are still low enough to purchase a property where you will get a good return on the money you spend to purchase an investment property.

Thank you,

Renee Venegas-Realtor
RAM Real Estate and Financial Services
831-261-8448
0 votes Thank Flag Link Wed May 11, 2011
In our south monterey county it has good investment opportunities. Also in the central valley of the state. What are looking for long term, rentals, flips, fixer uppers. Let me know how we can help
0 votes Thank Flag Link Wed May 11, 2011
I would recommend any areas in Illinois near major schools or Universities. For example, here in Chicago, I would invest in apartments/condos/ or any other multi-unit buildings that are priced right and near DePaul University. You've also got Northwestern, University of Chicago, IIT, etc.

Marcin
Marcin@ConlonRealEstate.com
0 votes Thank Flag Link Wed May 11, 2011
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