Where to invest in Real Estate now?? Charleston of Course!
Greg Rand, CEO of OwnAmerica and host of
Rand on Real Estate on WABC radio recommends
Charleston on the FOX Business Network “Where to Invest Now” segment.
• Monitor: Charleston one of better rental property investment locales •
Don’t expect instant riches buying a house in the Charleston area to lease out. But it’s a more lucrative place than many.
That’s based on a joint survey of the Best 100 U.S. Markets to Invest in Rental Property. HomeVestors of America Inc. and Local Market Monitor Inc. combined to produce the findings.
Greater Charleston placed in the lower fifth of the top 100 but still beat out dozens of other markets.
The survey found that California leads in high-rising markets followed by Florida, Texas and North Carolina.
The companies came up with rankings based on the expected future returns of single-family homes. The figures were compiled in first quarter 2012.
“Timing is everything, and with the long-term trends in their favor, investors don’t need to jump immediately into every market,” says Ingo Winzer, president and founder of Local Market Monitor.
Adds HomeVestors’ co-president David Hicks, “There are good opportunities for investors in every one of the top 100 markets.”
Hicks says job growth is a key market indicator for investment. “Higher job growth rates normally indicate a stronger market for rentals,” he says.
According to the groups, other trends favoring investors include a growing economy that is forcing rents higher and housing prices that continue to fall due to oversupply and inflation.
Winzer says inflation has surged from “close to zero” a few years ago to 3-4 percent today and expects the indicator to increase to 5 percent as the government pumps money into the economy. Lease rates should keep pace with inflation.
As a result, investors can benefit both from falling home prices and from climbing rental rates. “We think this is the best opportunity for investors to accumulate rentals in the last 30 years,” Hicks says.
HomeVestors and Local Market Monitor estimate that 14 percent of single-family homes in the U.S. are maintained as rental properties.
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To invest in Charleston real estate, please contact:
Shawn Pillion at 843/ 647.9711
Shawn(at)ChuckTownHomes(dotted)com
