Are you looking for ways and opportunities for growing your wealth and gaining even more financial freedom in 2018? Have you considered investing in properties in some of the USA’s hottest locations for investments? If you haven’t before, perhaps we can convince you otherwise.
We have done some research in property investment opportunities in the best locations for 2018, which means when you buy property in any one of these locations, you are more than likely going to make a buck out of your purchase in the long run. Let’s take a look at what locations you should start investigating as property investment opportunities this year.
1. Kansas City, Missouri
Kansas City is a perfect location to buy property right now. There are multiple reasons to back this statement, but we’ll keep it short and sweet. In essence, the city is attracting a lot of newcomers due to a rapid growth in job opportunities. Due to the influx of job seekers and jobs being made available, a need for living space in the form of rentals is a current need. The average income per household is around $50 000, and the average cost of housing or rentals sits at about $700 per month. If you are able to buy some property here, priced at around $100 000 depending on the area, you should be able to make a very good investment.
2. Detroit, Michigan
With an impressive job growth rate of 2%, Detroit is attracting a lot of job seekers and people in need of decent rentals. This location allows you to buy a fairly decent property at a very reasonable price of about $65 000 without having to do much work on the property itself. The average price of rental in the area and price range is about $900, and as the location keeps on growing and gaining traction, property values are also increasing. A perfect investment opportunity.
3. Houston, Texas
Houston has experienced extremely rapid population growth over the past couple of years and is listed as the fastest growing city in the US right now according to the U.S. Census Bureau. The annual population growth in Houston is around 15%. Properties are affordable, and a lot are either on auction or bank-owned and as an investor, you can get a very favorable discount, up to 40% to be exact. Rental prices in Houston are also favorable for investors, standing at around $1 500 per month, with property prices ranging from $392 000 and up. You can’t go wrong if you want to invest in property in this location!
4. Cape Coral, Florida
With affordable properties and houses due to the recession back in 2008, you will be reaping all the benefits as an investor. You are able to buy a decent and even newly built house at a price of around $200 000, and rent it out at about $1 500. MarketWatch even listed Cape Coral as the #2 destination for pensioners and retirees, meaning there is a lot of potentials to invest safely.
Are you aware of any other prime locations for property investments? We’d love to hear your opinion. Please share your thoughts in the comment section below or get in touch with us. If you enjoyed this post, be sure to read this insightful guide on property investment.