Where are the best places for investors to launch real estate investment businesses wholesaling properties in 2014?
There are certainly still numerous opportunities for flipping houses in markets all over the U.S. including hot markets like The Hamptons and San Diego, California. However, regardless of whether investors plan to focus on wholesaling houses in Phoenix, Orlando or Detroit or nationally in 2014, where they set up shop and base themselves can make a difference.
There may be many factors to consider when siting a real estate business from access to talent to capital to taxes, but tech savvy cities with lightning fast internet and incentives for entrepreneurs and companies moving in are likely to be among the fastest to grow according to tech journalist Alexis Caffrey via entrepreneur publication G-Code Magazine.
Fast growing cities with large amounts of in-migration and the fastest business growth are also likely to see the biggest demand for property, and in turn rapidly rising home prices and speedy home sales. This is exactly the type of conditions which are great for attractive profit margins and fast pay days for those wholesaling houses.
Publications like the Wall Street Journal have recently claimed that tech centers like Silicon Valley are still in for a real estate gold rush. Other industry experts might expect to see a Bitcoin rush but limited property value growth in these hot zones.
According to Alexis Caffrey’s report on ‘Top Tech-Savvy Cities to Start Your Startup’ some great picks may include Atlanta, Kansas City, Los Angeles, New Orleans, Seattle, New York City and Boulder, CO.
So what if you don’t live near one of the hotbeds for tech startups, or you do but aren’t embedded enough in the community to really be seeing the best benefits?
Coworking office hubs and startup incubators are still popping up fast in these cities and even in secondary cities like Naples and Sarasota, FL. These hubs often offer virtual memberships and business address services, as well as being great places for events, business networking and finding press opportunities.
Many could find these shared office spaces some of the most fertile soil for prospecting and connecting with up and coming business owners coming into lots of cash and wanting to buy big homes or build a rental property portfolio fueled by wholesale properties.
Take a look around at the hot business zones near you and think about how you can leverage their traction for your business.