Best Places To Own Rental Property

A rental property can be a tremendous investment. There are a number of great places to purchase a rental property right now, but some places are better than others. If you want to know where the best places are to put your money right now, here are some options for you.

1. Fort Worth, TX

The real estate boom hasn't fully recovered in this partner community to Dallas, but there are high population demands. This means you can pick up a pretty incredible house for a very reasonable price. The median home price in Ft. Worth is just $168k and in return you'll be able to get up to 5 bedrooms, 3 bathrooms, and over 3,400 square feet to rent out for a pretty decent monthly income.

2. Charlotte, NC

With growth forecasts looking at 8% each year for the foreseeable future, the $200k actual home price doesn't look to bad for this East Coast community. There's also the old school charm of Charlotte that lets you own some stunning properties that are around 2,500 square feet for this price.

3. Nashville, TN

With a growth forecast that is similar to Charlotte's, Nashville also has the charm of being the country music capital of the world. It also has a similar level of home pricing, which means there can be some good investments to be found there right now. Imagine owning a classic colonial estate for less than $200k that has 6 bedrooms, 4 bathrooms, and 4,000 square feet that you could rent out – that's the reality that this city can provide.

4. Atlanta, GA

Atlanta has some challenges in the rental market, but it is the biggest town with over 5 million residents that still feels like a small town at heart. The actual home price in this market is $170k and the 3 year growth forecast is 26%, so there are some pretty good deals that can be found. This average price will get you a 2,400 square foot home with 3 bedrooms and 2.5 baths.

5. Orlando, FL

What makes Orlando enticing is the fact that it has 10% annualized growth every year. There are numerous homes in Florida that are sitting vacant as well from the 2008 bubble and that means you can get a home here for cheaper than you can in Nashville, despite it being the epicenter of tourism in Central Florida. The homes are a bit older and might need a little work, but hey – it's Florida.

6. Las Vegas, NV

People are flocking to Las Vegas because the land is cheap, the opportunities for good work are there, and it's pretty close to major population hubs like Los Angeles. The growth forecast for Vegas is nearly 20% per year, so that $149k home looks like a pretty sweet deal. 4 bedrooms and 2,000 square feet on a quiet residential block can be had at that price range. Just make sure you check out the neighborhoods in Las Vegas before you finalize an investment.
Posted on Oct 20, 2014


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