I have heard from http://www.21stcenturyeducation.com.au/ and a real estate agent www.slvrstream.com in the USA that Kansas City, Atlanta, Indianapolis are good areas to buy a $30-$75K home because of low unemployment, taxes, infrastructure etc with deals giving you 13-20% net return, most I'm looking at are 18%. I thought this was great and then have been told and looking on the net that there are some people that flip you a property and they are the ones that make the money. So I don't know if these companies are reliable or not? 21st Century is a group that you have to buy a membership into also. Has anyone dealt with either of these and heard any good/bad stories?
So I have had a few properties one of them have sent me and I looked it up and they wanted $75k and when I had a look on trulia.com all the surrounding houses were going for around 20-40k and a suburb over they were around $80k. Then I saw that this particular property had a house next to it with a boarded up door and smashed windows and parts falling off it. Now Im thinking this RE agent isn't really helping me. Although I did read comments underneath the property that the neighbourhood is quiet and that the boarded up homes are done nicely etc.
I really would like to get 1 or 2 or 3 properties with this sort of return but I don't want to get ripped off and buy into an area with lots of abandoned houses or too much supply where no one will want to rent it. Anyone got any thoughts on this or any good sites to do more research from? What do you think about these cities? They seem to be quite "cheap" and I'm wondering how "bad" they might be.
I'm looking for cash flow not really capital gains
Thanks
So I have had a few properties one of them have sent me and I looked it up and they wanted $75k and when I had a look on trulia.com all the surrounding houses were going for around 20-40k and a suburb over they were around $80k. Then I saw that this particular property had a house next to it with a boarded up door and smashed windows and parts falling off it. Now Im thinking this RE agent isn't really helping me. Although I did read comments underneath the property that the neighbourhood is quiet and that the boarded up homes are done nicely etc.
I really would like to get 1 or 2 or 3 properties with this sort of return but I don't want to get ripped off and buy into an area with lots of abandoned houses or too much supply where no one will want to rent it. Anyone got any thoughts on this or any good sites to do more research from? What do you think about these cities? They seem to be quite "cheap" and I'm wondering how "bad" they might be.
I'm looking for cash flow not really capital gains
Thanks