Top 10 Housing Bets for Investors
Investments in single-family homes for rental properties will remain an attractive venture in many markets in the new year, says Ingo Winzer, president of Local Market Monitor. Winzer notes that Texas and Oklahoma offer some of the best bets “with their low unemployment rates and ability to profit for years from new shale oil and gas development.”
Local Market Monitor and HomeVestors, an investment company that brands itself “We buy ugly houses,” named the following top 10 housing markets for investing in single-family homes for 2014. All of these markets have posted strong appreciation in the past year but are still underpriced by up to 28 percent.
- Forth Worth, Texas
- Dallas
- Charlotte, N.C.
- Nashville
- Houston
- Atlanta
- Oklahoma City
- Orlando, Fla.
- Las Vegas
- Boise City
“We think the markets hold considerable opportunities for investors as long as they do not over pay for properties,” says David Hicks, HomeVestors co-president. “Only seven of the top 100 markets continue to be ranked as ‘speculative.'”
On the other hand, the 10 “riskiest” markets named were:
- Los Angeles
- Gary, Ind.
- Providence
- Buffalo, N.Y.
- Toledo, Ohio
- Cleveland
“These markets continue to have weak population and job growth that makes them more risky investments,” Hicks says.
Source: HomeVestors
