Title. My partner and I live in VHCOL area and know the market fairly well. Every now and then we see old properties listed at "reasonable" prices and get snapped up right away with a bunch of likes/bookmarks on real estate platforms. People go crazy on bidding on these properties. We are not particularly handy so I never really feel like we should dabble into flipping. Instead I am contemplating buying prebuilds which require less work - a ton of them being built near us. But then I look at the prices and compared them to MCOL/LCOL and think I'm just stupid buying prebuilds. How do you decide on where to buy and what got you started?
Next 10 years then you have plenty of time to just look for a good deal at good price.
yes hcol generally appreciates faster than other areas. esp in areas with lots of tech co’s nearby
It depends on if you are buying a primary home or an investment property. If primary, it should just matter to your priorities, for instance school, proximity to work, size, etc. For instance, you should focus on your strengths and what you can do. If you don’t have time, flipping and wholesale is probably not a good idea, perhaps buying a turnkey long term hold is a better idea. Then you have to decide if you care about cash flow or appreciation or hybrid, then it will narrow down the locations you should/should not invest in. Real estate invest can be cash and time intensive, so take a step back and figure out what are your strengths and non negotiables
It will be for investment but close to our primary for the next 10 years probably.