Summary List Placement
Good property investors should always have a pulse on the market.
And as the US continues to combat an unpredictable real estate climate brought on by the coronavirus pandemic, the likely sellers’ market could mean now is the right time for investors to start thinking about their next move.
Longtime investor and Atlas Real Estate CEO Tony Julianelle, who has built a $3.5 million real estate portfolio from scratch, told Business Insider that while real estate investments are great opportunities for investors looking to generate passive income, some cities are more likely than others to lead to profits.
With long-term market appeal, financing costs, and a number of other financial factors varying by state, Julianelle said some locations protect an investor’s bottom line better than others.
That said, these are the cities he said investors should keep an eye on if they’re looking to build a real estate portfolio.
SEE ALSO: 5 cities real estate investors should target in the 2020s, from a property manager who built an $8 million portfolio from scratch
SEE ALSO: How a 41-year-old ‘house hacker’ built an $8 million-plus real estate portfolio that would let him retire now — if he wanted to
1. Boise, Idaho
Boise is a dense suburban city home to around 225,000, where 60% of residents own their homes. The city is ranked 32nd on the list of best cities to buy a house in America and 51st on the list of best cities to raise a family in America.
The median home value in Boise is $230,800, and the median rent is $910.
2. Salt Lake City, Utah
With a population of almost 200,000, Salt Lake City is ranked as one of the best places to live in Utah. Of the residents, 52% rent and 48% own their homes. The city is ranked 26th on the list of best cities for outdoor activities in America, and 41st on the list of healthiest cities in America.
The median home value in Salt Lake City is $289,200, and the median rent is $938.
3. Reno, Nevada
Reno is home to around 240,000 residents, where 48% of residents own their homes. The city is ranked 17th on the list of best cities for outdoor activities in America and 48th on the list of cities with the best public schools in America.
The median home value in Reno is $299,700, and the median rent is $967.
4. Portland, Oregon
Portland is home to about 640,000 residents, of which 53% own their homes. Portland ranks third on the list of best cities for outdoor activities in America and 15th on the list of best cities for young professionals in America.
The median home value in Portland is $383,600, and the median rent is $1,187.
5. Knoxville, Tennessee
Knoxville is home to around 185,000 residents and a dense suburban area feel, where 46% of residents own their homes. The city is ranked 52nd on the list of cities with the lowest cost of living in America and 88th on the …read more
Source:: Business Insider