Magazine article Mortgage Banking

California Top Market for Buying Single-Family Rental Real Estate

Magazine article Mortgage Banking

California Top Market for Buying Single-Family Rental Real Estate

Article excerpt

new report, Best 100 U.S. Markets to Invest in Rental Property, shows California leads the rest of the states in the number of local markets where opportunities abound for investing in single-family rental properties. The report was completed jointly by HomeVestors of America Inc.[R], Dallas, and Local Market Monitor, Cary, North Carolina.

According to the new report, California had 12 markets that made the list of top U.S. markets to invest in rental properties. Florida came in second with nine markets, Texas placed third with seven, North Carolina ranked fourth with five markets and there was a tie for fifth among New York, Ohio and Tennessee (with four markets each). A press release accompanying the report said 39 states and the District of Columbia are represented on the list.

The two companies produce quarterly rankings of the best 100 markets to invest in rental proper ties based on expected future relative returns on single family homes. The new report released on March 13 is based on data gathered in the first, quarter of 2012.

The authors of the report noted that their picks for the best 100 markets include both immediate opportunities and ones where investors would be wise to hold off just a bit before diving in.

"There are good opportunities for investors in every one of the top 100 markets." said Home-Vestors Co-President David Hicks. "But investors would be wise to take into account other dynamics for the ideal timing to enter the market." Hicks singled out job growth as a key indicator of a market prime for investment. …

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