How To Find Rapidly Appreciating Markets To Invest In
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Read Transcript for “How To Find Rapidly Appreciating Markets To Invest In”
Here’s how to find markets that jump in value and how to safely invest in them.
“A topic I’d like to hear about is how to find specific markets that jump in value.” – Jimmy Landry
Joe: By that, I assume he means a jump in equity or a jump in the market value, i.e. places where we’ve seen in the past like Phoenix, Los Angeles, San Francisco, the East Coast, Boston, Florida, etc. – great markets to get into but when they get saturated, they’re not such great markets to be in anymore. So you want to make sure you’re in a good market when you buy.
Joe: Now, you can be in other markets that don’t jump like Indiana, which is where I’m at right now. We see a 2-4% value appreciation every year, so we’re not going to see the instability that these other places have, but we’re also not going to see the incredible increase in value.
Joe: But actually finding those markets is a whole day’s seminar in and of itself. It’s a huge undertaking to go through that process. But I think if you get online and start looking at where the values are moving up, you can probably be fairly safe to go into those areas and buy those properties.
Joe: I’ve seen people do it different ways. Some people go in and they’ll put a lot of money in. We see this down in south Florida where people will buy the condos for $300,000 to $600,000. They’ll buy condos, hoping that they’ll appreciate 25-30% a year. They’ve had 40% appreciation in south Florida in some parts there, so it can be very exciting.
Joe: But, you can get stuck with those properties too. And it takes them two years to build some of those condos, so if you buy preconstruction and the values go up and then you hit a downturn in the market before your property is available for sale and then try to sell it, you can be stuck, especially if you have your own money and credit in it.
Joe: So, my overall advice to you is if you’re looking for markets that jump, find deals that you can do without the money and without the credit, just the way that I teach, and that way, you’re going to be a lot better off, and if they don’t jump the way you want them to jump, then you’re not going to be hurt. Good luck.