Source: Fox Business —
The rising cost of living and long-term price increases of residential properties in U.S. coastal markets is pushing out-of-state real estate investors into America’s southern and Rust Belt cities.
In an interview with FOX Business, Dameion Kennedy, a real estate analyst with Lima One Capital, said “local regulations for landlords in these cities, the property taxes, labor availability, population growth and local knowledge for specific investors to find properties has pushed these locales to the top of the list.”
“These cities are cheaper than West Coast markets because of long-term prices and cost of living.” he added. “However, the best investors know success depends on the individual property much more than geographic area. But there are strong trends indicating these markets have individual properties worth the investment.”
“And long-distance investing is more than building,” Kennedy added. “It could be home flipping, or it could be buying existing homes to use as rentals.”
