[quote=spdrun]Horseshit. There are better and worse buys. Some areas (like NYC and SF) have 4% cap, and a crummy buy/rent ratio. Not much room for appreciation. Whereas areas with 8% cap have much more room for appreciation.
BTW, I’m not saying that the OP should sell, but there’s for sure money to be made in “churning” properties if the game is played right.[/quote]
I would agree with you, spdrun, but I think paramount has kids in school. He really isn’t able to “churn” houses one after another while moving into each one, especially with transaction costs as high as they are today.
Austin, TX, probably does not appreciate very fast, if at all. Property taxes are very high in TX and the “homestead law” there tends to put a damper on even long-term appreciation.
I think mostly all the appreciation is quickly being wrung out of Las Vegas properties. This area, along with Phoenix, AZ, was and is grossly overbuilt. And a lot of the jobs available in LV end up being temporary gigs.
The grass is not always greener on the other side of the fence.
