Investing in real estate can be an exciting and lucrative way to increase your cashflow and potentially even make serious cash. However, real estate markets can be notoriously volatile, especially in the short term.
That means that investing wisely is often a matter of staying on top of the latest trends, being aware of market research, and knowing what areas are currently booming.
If you’re looking to invest in real estate but aren’t sure where to start looking, consider these 5 cities. The cities that make this list may surprise you, but that’s the point: they’re places where you can still get property at a bargain, but promise to grow significantly in the future.
Many real estate investors are calling Provo the new Boulder. Why? Because, like Boulder, CO, Provo is located near a large, booming city, but offers a quaint small-town feel that many younger families crave – and with property values that make it possible.
Boulder is about as expensive as most places in California, and Denver has been heating up for a while too, making them difficult places to invest in the West. However, Provo offers many of the same desirable traits, like mountains, lakes, and the small-town charm many people love and want to move to.
Where should you start? Check out residential property in Provo to find houses for rent, or consider investing in new apartment and condo development as the town grows.
San Antonio, Texas
San Antonio is something of an undiscovered gem in Texas. While Dallas, Austin, and Houston have all been booming with new industries and families moving into town, San Antonio has retained much of its small-city charm. And the property values are to die for.
The average home price is just under $200,000, making San Antonio perfectly affordable for most investors. But prices promise to keep growing, as young people are priced out of expensive cities like Austin and coastal hubs like LA and New York.
There’s never been a better time to find hard money lenders in San Antonio and get to work fixing and flipping a charming historical Texas house just in time to see prices start to surge – and your profits along with them!
Speaking of undiscovered gems, Tucson is a desert oasis with real estate that will make any investor swoon. It’s a quaint southwestern town – think pueblo buildings and plenty of topaz – but isn’t as pricey as Santa Fe. Plus, with a world-class art scene, it’s a great place for many people to put down roots.
What makes it a killer investment? Many millennials (and soon, Gen Z) are getting priced out of nearby and expensive California. Looking to settle somewhere out of state but not too far off, the coming few years will see many flocking to cities like Tucson. Find a Tucson rental unit or house to invest in early before prices start to rise!
Charlotte, North Carolina
On the opposite side of the country, you’ve got another growing and gorgeous city that’s worth your interest: Charlotte, North Carolina. This quaint Southern city is a great place for families as well as young professionals, with growing industries in finance, tech, advertising, and more.
Similar to the previous editions, Charlotte is a great place to invest because many young people are currently getting priced out of cities like New York, Washington DC, and even Atlanta. This makes it a great place for those looking to purchase property and rent or flip and sell.
Look into the Myers Park, NoDa, and South End neighborhoods for vibrant city scenes, plenty of hip lofts, condos, and townhouses, and even great opportunities to begin investing in commercial real estate as well as residential options.
Cedar Rapids, Iowa
Last on our list is a growing city in the Midwest. Cedar Rapids is a beautiful but often overlooked city that’s hot and growing. With a burgeoning Cedar Rapids political consulting industry, a thriving downtown, and plenty of space to buy at affordable prices, Cedar Rapids is set to be a hot spot for investors in the near future.
Don’t miss out and be sure to find the right property for your portfolio in Cedar Rapids soon! Or, pick one of the other exciting and upcoming cities on our list, and get in early on some of the hottest investment opportunities in the real estate game.