How to get the best return from rentals?

florida the prices are very low but it appears they will continue to be low...except Miami the condos are starting to sell again.

> except Miami the condos are starting to sell again.

Where are you getting that information?
Case Shiller still has Miami dropping...

I figure you want a place you can reach in a jam. Try a depressed city in New Jersey... Newark, Trenton, Patterson. Prices can't get too much worse, but the cities are improving.

Florida... its gonna be a long time before that boat sails again.

And why only limit it to properties?

Why not diversify? Pick up some REITS... or hell, but the index.

HRP... but I run a Ponzi scheme and would most likely be frontrunning also :)

Thanks for the advice. New Jersey sounds like a good one, I have also heard of places around Miami like Aventur, Bal Harbour...
How is Newark? What is currentky changing? What kind of return can I expect in these areas?
I would love to diversify but I am too anxious and scared of living my money wit banks...

i know that condos in miami are selling..i have friends who have been renting there and are now buying. You sound very anxious which would not be good when investing in real estate in this market.

Unless you go with W67th's ponzi scheme (which, I must say, has consistent phenomenal returns; I don't know how he does it), I say leave yr $300K in cash for the next 12-18 months since RE has not bottomed. Spread it out in FDIC insured accounts.

"Newark, Trenton, Patterson." Trenton??
IMO, in crappy markets, do not buy in crappy areas.

"New Jersey sounds like a good one, I have also heard of places around Miami like Aventur, Bal Harbour...
How is Newark? What is currentky changing? What kind of return can I expect in these areas? "

biba: no offense, but based on yr posts, I don't think you are prepared or ready to buy RE for investment purposes at this time.

For ex: Are you willing to take the risk of being an absentee, long distance owner?

If you want to be a RE investor, educate yourself: read books, take classes, watch, wait, study & learn.

"My criteria is : affordable price, safe area, great returns, not in a place where I would have no chance to resale. Any ideas? I was thinking of Florida and California as this is where the prices went the lowest but??"

"great returns"????!!!!!

biba: there are NO "great returns" today in RE. At best, there are decent returns where one won't lose one's shirt. Don't mean to be harsh, but you are naive. Please do not buy anything at this time. Nuff said.

I haven't looked into it, but i keep hearing stories about pretty compelling opportunities in Philly and its suburbs.

The Philly (and environs) market is definitely one to keep an eye on (more and more folks are choosing to live there and commute to NYC; Philly's not a bad place to work either) though I don't know that now is the best time to buy--things definitely seem poised to slide further.

In my opinion, it makes more sense to buy a rental property that's close enough to where you live that you could easily be on site in a reasonable amount of time if there were a problem (and it's virtually guaranteed there WILL be). Also, if you're renovating the building, which will very likely be necessary, you'll want to make frequent (as in daily) visits during that process. So for my money, I'd be looking at properties no farther away than an hour or two from NYC.