Rapid City Real Estate

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Questions and Answers

How to invest in real estate ?

I am planning to invest in real estate in the future and was thinking if it's possible to turn £150,000 into £600,000 within 10 years?

Also, what are the best properties to buy for £100k, £200k, £300k and £500k. Is it also better to buy and rent properties or buy, redecorate and re-sell them ?

I was looking at damaged properties e.g. Ones that were burnt in a fire but I couldn't find any. Is there a special website for damaged properties ?

Posted by David
Black Hills Real Estate

If you want rapid and high growth in real property, you have to invest in major cities, such as London. I am not even sure if Birmingham would give you that. In London, at prime locations, I am not talking about Kensington, Knights Bridge or Cromwell, I am talking about Aruna Garden only. A house knocks you 3 – 5 millions, easy.

In small city, you might be able to buy a house for 200K, but the growth just isn`t there.

Detroit, MI real estate. Urban renewal?

Does anyone here live in the Detroit area? If so, can you share any knowledge you have on areas on the verge of in the process of an "urban renewal". Street names, zip codes, or area names would be appreciated.

Posted by sheila c
Black Hills Real Estate

Not that familiar with Detroit, but just a word of advice.

I would use another term other than "Urban Renewal". It has many connotations. In the 60's it meant "slum clearance". The government would seize large areas, grab them using Eminent Domain, and build highways, or luxury apartments that eventually turned into more slums, or large commercial buildings. To many folks the term "urban renewal" meant "negro removal". Urban Renewal died during the 70's and 80's after community protests made this process political suicide.

I think you probably mean "urban revitalization", this term is more closely aligned with "gentrification" and rapid market appreciation. Most "flippers" look for these areas. To identify an area on the verge, I would look for the "bohemian" zones in a city. After the rockers, bikers, and starving artists make an area "acceptable", the Gentry will soon move in and drive the prices up through the roof.

Can anyone tell me what the cost of living in..?

Rapid City, South Dakota is? And also, the job market. I'm a recent graduate in Business Mgt/Administration.
What would a family expect to pay for rent on a townhome (2-3 bedroom)? Where would I look to find this information online?

Posted by Tina R
Black Hills Real Estate

Google Rapid City, then see if it has a daily/weekly newspaper and look at their Classified ads. See if there's a Real estate listing for any houses there. I bet there are several realtors.

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