If you’re looking to make some real estate investment moves this spring, this article is for you. But before we get into the specific markets we recommend, here are a couple of important considerations to take into account.
First and foremost, it is important to qualify any investment advice by understanding that the most ideal market for one investor may not work out for another individual with different goals, budget, strategy, etc. Where you ultimately settle on concentrating your investment energy is entirely dependent on your own unique personal investment profile.
Express Capital Financing has been advising successful investors in the single and multifamily rental sectors for decades. We’ve found that the top performing markets typically share three common denominators: excellent employment statistics, expanding population numbers and affordable home prices. Finding a market that exhibits all of these characteristics and chances are it is a viable investment opportunity in terms of potential cash flow and steady appreciation.
Now that we’ve got those bases covered, here is a closer look at some markets that are producing above-average returns on investment headed into the spring months.
Charlotte, North Carolina
Interest in the Charlotte rental market has been steadily increasing after several years of consistent production. The local population is growing at exponential rates due to an extremely robust and well-diversified economic base. Several big-name companies have locations in North Carolina’s largest city, to include Bank of America, Wells Fargo and Duke Energy just to name a few. Couple that with comparably low housing cost and you have an investor’s dream investment location. With average property values hovering just above $329,000 and median monthly rents coming in at approximately $1,693, there is plenty of potential for generating a sustainable cash flow with a smart investment in Charlotte. Of particular note is that the one-year equity growth in Charlotte is an amazing 25%, which is a shocking 30% above the national average.
The greater Cincinnati metro area has plenty to offer for savvy real estate investors looking to tap into a high-performing market that is gaining solid traction as a regional powerhouse for generating reliable investment returns. Affordable rentals properties are abundant, and with an average listing of only $239,000 the financial barrier of entry is relatively low compared to other more high-profile urban national marketplaces. One of the biggest factors fueling Cincinnati’s growth as a rental destination is the notable influx of millennials to the already sizeable 2.2 million strong population. With 10 Fortune 500 companies setting up shop in this historic city ideally situated on the picturesque Ohio River, the local economy is booming—and the increasing number of highly-skilled, well-paid workers all need flexible living conditions. For investors, that means you likely won’t have a problem finding plenty of viable tenants willing to pay premium rental rates for the right property.
St. Augustine, Florida
Last, but certainly not least, on our list is the pristine city on Florida’s pristine coastline: St. Augustine. This neighborhood is often associated with wealth and luxury—which explains the above-average median home values and higher monthly median rent prices. While the barrier to entry is a little steeper than other markets, the potential equity boost makes it well worth an investor’s time to claim a stake in this top-producing rental marketplace. In the past 12 months alone, St. Augustine home values have skyrocketed by an astounding 34%, which is over 75% more than the national average. That, combined with a rapidly increasing local population and stable job market, means that investors should definitely consider St. Augustine when they make their next move.
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Express Capital Financing is a national private money lender specializing in delivering individually-tailored funding solutions that are specifically tailored to assist you in accomplishing all of your investment goals. With a streamlined application and underwriting process, you will have the money you need, when you need it—and all without the needless paperwork and delays associated with conventional loans. Contact us today to learn more about the Express Capital Financing difference!