The Kind of Home 1 Million Will Get You In These Cities
Real estate has made a HUGE resurgence over the last couple of years but as the old saying goes, what goes up must come down … or at least level out. Prices are at an all-time high right now around the country in the major markets especially, but they will start to come down in two years. Even the rent rates in Los Angeles are, for a half decent apartment where you may have to step over a group of homeless people is at an all-time high at an average of $2000 a month for a one bedroom. It’s not unusual to see five adults, all with cars, sharing one living space here in LA which is a contributing factor to the massive traffic problem the city has today. Homelessness is also at an all-time high.
So what’s happening around the rest of the country? I don’t talk about it much here but I’ve been a real estate agent for 12 years and I also have a great interest in business trends. In the black community, we don’t like to talk about the future, the community simply prefers to respond to what HAS happened, instead of what’s GOING to happen (lol). You know it’s true but It’s understandable considering what it takes just to survive day to day. So I don’t post a lot of things about future business trends here pertaining to the entertainment industry.
I can tell you that small to mid-sized markets are the next big thing. As the entertainment industry has spread out around the country and streaming media is exploding, hungry and viable talent is going to pop up from all corners of the states and LA will be more like an “office” to come to take care of business and attend events in the near future then get out. Tech companies and major corporations will get a much bigger bang for for their buck by having several locations around the country buying the real estate at cheaper prices, instead of renting in major markets (for the same price or MORE) and creating we-work spaces as an extension of their companies. Smaller towns are also converting the last of their dilapidated buildings into lofts that they are buying from the city for cheap prices.
I’m not a financial advisor but if you have money to invest, those are the areas you might want to consider buying real estate right now and use it as an air b&b or rental for a few years to garner income, especially working in an unpredictable industry like we work in and considering that many of us may have to move back to our hometown to help our aging parents in the near future.
If you want to buy real estate in LA or Atlanta reach out to me at firstname.lastname@example.org There is certainly incredible value in both markets, especially if you plan to get in and get within a few years or maintain a property for air b&b which is HUGE here.
Here is the list of what 1 million will get you around the country today.
LOS ANGELES, CA
PALM SPRINGS, CA
CHICAGO (Hyde Park)
NYC (Midtown East)
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