Every has real estate investment tips for Canadians these days, especially agents in the US. We are connected to a group of folks who are serious about the US market, and they have been down there recently just like we have.
Probably the key thing that came out of our latest meeting was that the US market, in the southern states is still sliding. Worse, investors are very hard pressed to buy and cash flow properties in places like Arizona and Nevada. Florida, as we have noted elsewhere, is worse.
But there are rays of sunshine peeking through the storm clouds. There are places, in the northern states, that are still viable investment locations. It is possible to cash flow properties.
The key is to find areas that were not part of the price bubble of 2002-2006. These places are still doing well in terms of rentals and resale. One friend has done quite well with inexpensive properties. All he did was scoot to the northeast rather than the southeast.
While the allure of the sunshine states is pretty strong for many Canadians standing in a snowdrift, I would recommend doing a bit more homework first.
Cheers,
Mike Fears
author@tatinvestments.com
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