As an active investor in
As an active investor in
Very agreeable with the Apprentice`s observation.
Check out the new Business 2.0 November 2006 issue. In the magazine and it ranked Wilmington, NC as a hot spot and has a project 37% projected gain in home prices.
Also there is a risk - The Carolinas are historically always been affected by the hurricanes. So make sure you get both flood insurance and hurricanes insurance. They NEED to go hands in hands.
Atlanta is also a good market for mining good deals out of foreclosures or about to be foreclosed. I think a lot of people bought tooooo much house. I mean they bought more than they could possible afford.
It is hard to sell a house in the burbs however real estate is red hot near the city due to short commute time. Trust me the drive can be a pain in the donkey`s behind on the perimeter and I20.
Question to other real estate investors - would it make sense to rent or lease out a house that is hard to sell. Because in my neighborhood alone - there are a lot of starters` house that have been on the market for over 3 month time frame on an average.
I am thinking about putting my house on the market as well but I was wondering if I would be better off just renting it out and taking out a 2nd mortage on the new property that where I would like to move to. (Yes closer to the city lol)
Rich Dad - check the taxes in Asheville - they are getting outrageous. Have friends that have been there many years and taxes are about to cause them to leave. Yes, it is booming there - it has been discovered. Has a been a secret of us native Atlantans for many, many years. Anywhere in that general area is booming. Highlands use to be a beautiful secret but the crowds and newcomers have made in almost unbearable.
DeafCeo - Atlanta traffic is absolutely awful - not just I-20 - it`s north, south, east and west. People I know who moved 15-20 miles outside the city and use to have 15-20 minute commutes now spend 1 to 1.5 hours on the road - one way to work. Intown, where I live, is booming. Old neighborhood where I live - 2 minutes from new Atlantic Station intown development - 2 bedroom, 1 bath, 1100 sf or less on less than 1/8th acre selling for near $400K - house might be built in the 40s or 50s. Many newbies just push them down at this price and rebuild. I`ve been in my house for over 10 years - imagine the appreciation
High-rise condos springing up like mushrooms intown - luxury stuff. Starting at $500K up to $2 million+. Many are buying these units for investment. Many sell out before they break ground.
But seriously folks, the traffic sucks big time. Don`t come.
gosh i would love to live in the Atlantic station area.. that is prime real estate and almost hassle free trafic. Cant believe it used to be an industrial wasteland lol
But you know I cant understand why someone would live in a $500,000 to $2M+ High Rise. It gotta be over 3,000 sq for me in order to justify that price!
But then again I dont have that kind of money yet. I guess my attitude would change if I have extra zeros in the bank account.
You are 100% correct - TRAFFIC IS AWFUL and the transist system is somewhat ok but it isnt like NYC metro. I didnt need a car in NYC like I need one here. I wonder if the traffic is worser in Los Angeles than it is here.I honestly believe the word flex-time is a WEST COAST creation lol because my friend in LA say it takes 2 hours to get to work and 4 hours to get home lol
I almost moved to Miami but opportunity at the time land me in Hotlanta! But now I wish have I have relocated to Phoenix!
Honestly when I am in the position to become successful I am seriously want to get a house in Miami.
Real Estate in the city will always be high because the city ran out of land. So the only way to do it - is buy an old house dirt cheap and rebuild However plenty of properties in the area that are begging to be rehabb mostly in the East Point and College Park area and also long Ashy St I think it is known as Joe Lowery blvd near Morehouse/Spelman and Clark Atlanta Univeristy.
But I am planning to put my house on the market - the traffic is because too much for me and I am tired of spending 1.5 to 2 hours for a 20 minutes commute. But in order to do that I would need to generate more income thus is why I have the urgency to convert to the Business Owner/Investor Quadrant after being a corporate slave for many years. SET ME FREE and I shall be free
My goal is to retire on a big yacht and sail around in the gulf of mexico by the time I reach 50. So I better get to cracking! cuz that will occur in 14 years!
We just moved to Tennessee from Ohio and love it! We looked into the Carolinas, and were interested in a few places there, but we found a great deal at a new place in Tennessee so we moved here.
There are a lot of new communities springing up throughout the Carolinas and Tennessee, as I am sure there are throughout most of the south as people look for warmer climates without doing what a lot of people in Ohio have done: spend half the year in Ohio and half in Florida.
I do wonder sometimes how many of these communities the market can take, but since we have no immediate plans to leave Tennessee, we can hold out until the market is good or we absolutely have to sell for one reason or another.
As in anything you do, research is the key. There are a lot of opportunities out there that will cost you an arm and leg. We bought our house for the price of what some lots are going for. Be sure to know your limit and don`t get caught up in they hype of "you better get in now before the prices go up."
If you are interested in the Carolinas, we found a couple of places we liked a lot in North Carolina: Mt. Airy and Morganton. Both of them are great little (but not too small) towns with wonderful downtown areas.
One advantage of Tennessee is that there is no state income tax. However, everything you buy is taxed, including food, which is different for us from Ohio.
There are many great "finds" just outside the Asheville area that are screaming to be explored!! I am a land developer in McDowell County, NC (just 40 miles East of Asheville) where the cost of living is still affordable, the views are second to none, and the peace and quiet is something you just won`t find in the city. We build private, gated second home communities that offer the perfect blend of VIEWS, privacy, and convenience. As a rural mountain top developer in the Carolinas for more than 10 years, we`ve experience first-hand the small boom that the area is currently enjoying and, more importantly, the direction it is heading. This is an incredible "undiscovered" area that I believe is the future of affordable mountain property in the Carolinas. Why else would we choose to develop here when Asheville has become the prime location?
cjpeeps - Thank you for spreading the word on Morganton (just 15 minutes north of my properties). It truly has that small town charm where anyone can feel at home. It`s just too bad you didn`t get to see my properties before deciding on TN!!!
Even though we found some great places in NC, and visit there every chance we get, Tennessee won out mostly because of proximity. We are very close to the route folks would take from Ohio (our home state) to Florida and a bit closer to family members in eastern TN and VA, though not much.
There were actually other factors in our choice of TN, but way too many to go into here and none of them that are any negatives to NC. In the end, our move to TN comes down to providence.
fallcreekland - If we ever do look again in NC, I`ll be sure to look you up.