The Golden State is quickly becoming one of the hottest markets in the country for would-be real estate investors working with hard money lenders. Whether due to the beautiful year-round weather or the booming industries and job markets, California’s real estate market is in a prime place for investing and aiming for an eventual return on investment. Property prices may be high currently, but that also means that if you manage to purchase a property, potentially through hard money loans to move the process along, and then rent it out, you could easily create a side stream of reliable income, especially given the state’s high population. You might already have your sights set on California, but if you’re still weighing which specific cities to zero in on, here are the top five places to keep on your real estate radar.
If you’re searching for a surefire bet, you can’t go wrong with Sacramento. Since it’s the state capital, it’s all but guaranteed there will always be interest in property in this city. Additionally, the property here is more affordable than in some other major cities in the state, making it a good choice for buyers with smaller budgets. You can even work with private lenders for real estate to see if your Sacramento investment property dreams can become reality.
2. Los Angeles
When it comes to real estate in California, no discussion would be complete without mention of the famous Los Angeles. This city hardly needs an introduction, and it’s safe to say that its countless attractions make it a consistently strong market with great potential for return on investment. Some of the attractions that could work in your favor by raising the value of your investment property in L.A. include:
- A booming entertainment industry
- A mild and dry climate
- Opportunities to cater to a luxury market
For an offbeat choice, consider going with Davis, a college town full of potential. With a University of California campus right in town, a Davis investment property is likely to pay off by constantly staying in demand.
One of Oakland’s major advantages is its proximity to the major technology and cultural center of San Francisco, but that’s far from all the town has to offer potential residents. It’s recently become more of a hub for employment and has excellent potential for renters who want to stay in the Bay Area without paying San Francisco’s often sky-high prices.
5. San Francisco
Of course, some renters are more than willing to pay a premium for their desired location, and San Francisco itself is no exception. If you’re willing to plunk down more cash for an investment property in San Francisco, you’ll be glad to know it’s one of the hottest markets in the country and you’re likely to see appreciation on your property.
If you’ve been debating buying your own piece of the hot real estate market in the Golden State as an investment, now could be the right time, and there are countless up-and-coming cities to choose from. If you’re set on California but you haven’t narrowed down the precise locality yet, consider any of these five prime spots for the top of your investment list.