I don't post those little 4 foot square half-assed handmade signs. If I am going to post in an area, I rent a real billboard for six months or whatever. You can get the graphics done and get the thing posted for a few thou and it can be a good deal. You can't just post and pray. You have to understand who is driving by. Example: If I know that the XYZ defense plant is going to have huge layoffs, and if I know that 99% of the people who work at XYZ take Highway 123 to get to and from work, guess where I post the billboard??? I can get fabulous response, but only because I target my audience so specifically.
I live about 20 minutes away from an area where many houses are listed at $54,000 and rent for about $500 p/m. I've often seen ads stating "OWC", the problem is there are no big employers, the county, Walmart, and hospitals are the main employers, most people are on welfare. Would investing in this area be a good idea? For years now, "they" have been saying this area is going to boom. An hour away houses are going for $200,000 plus.
This week I've seen 3 duplexes listed for $45,000 ea. I'm not sure what condition they are in but they are rented out.
Does investing in an area without many jobs (jobs are within an hour's commute) make for good investing? This area is a resort area to the San Francisco Bay area and the population generally swells to twice the normal in the summer.
Sounds like the Clear Lake area. What worrys me is that it is a one industry town…welfare. And in four years that industry is being closed down as everyone is being pushed off of welfare. What are they going to do in that area? Rent U Hauls. A lot of rural welfare towns are going to be boarded up as welfare reform takes place. They passed the laws a year ago but the changes don't hit the fan untill every one has used up their five year lifetime benifits.
Unless of course, they use this time responsibily and prepair themselves for their futures…ha ha, just joking.
One of my biggest successes came when they built a lot of very nice homes about 2 freeway hours from the jobs. I hoisted up two I WILL BUY YOUR HOME billboards along that freeway route. After about 6 months of that commute, my phone began to ring and it hasn't stopped.
I am heavily invested in Orlando, Florida and I recommend it. In tourist areas, you can rent them out weekly, and do very well. Management becomes MUCH more intense, and the home frequently must be fortified to withstand the rigors of weekly rentals, but it has been very profitable for me. You have to understand also that your competition has changed. You are no longer competing with apartments and duplexes, but with luxury hotels and resorts. Your amenities must be comparable with the competition if you expect to do well.
You're right! I live near Hidden Valley, on 20 acres. It's nice here, a great place to raise kids. I'm not sure about the Clear Lake, Lakeport & Kelseyville areas, houses seem to be pretty cheap the closer you get to the lake. I keep hearing that Middletown is going to BOOM! So if that ever happens, I'm thinking maybe a little of that boom could spread to the rest of fLake County.
The Welfare thing scares me a lot. I think this area could be beautiful, maybe even like Lake Tahoe, if only there were jobs and a lot of clean up.