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Old 09-15-2014, 08:18 AM
 
119 posts, read 123,897 times
Reputation: 97

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Better City for Real Estate Appreciation: Condo in LA vs 2Single Families in Phoenix?

I’m moving to either the LA or PHX area within thenext few months. I have $45,000 cash saved up and I’m wondering if I can doublein 2-3 years with real estate appreciation. Which area would be better for this plan?LAreal estate has a very strong history for real estate appreciation, but can acondo appreciate $45,000 in two years? My budget would have my purchase price atabout $200,000 therefore I’d be looking at a sales price of about $250,000 in 2016.

Phoenix real estate market is volatile. Up down and all around. But if I plancarefully, buy two of the lowest prices houses in the best areas, can $25,000 appreciateon two separate houses be possible? I’m thinking potentially buying maybe aduplex for $225,000 with 5% down and then a single family at $135,000 at 30%down. Sell each house respectfully for $260,000 and $175,000 with a target of$25,000 profit from each property being the bottom-line.

Which city would be better if possible at all?I sold my first home I bought in 2012 for a $41,000 profit in 2014. Why not tryto repeat history.


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Old 09-15-2014, 11:04 AM
 
Location: Just south of Denver since 1989
11,489 posts, read 31,128,934 times
Reputation: 8111
Neither. Do not expect 20% appreciation in real estate.
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Old 09-15-2014, 11:13 AM
 
Location: Barrington
56,775 posts, read 39,167,414 times
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$45 k cash saved does not buy much in LA.

Real estate is local, down to the neighborhood, block, building and in the case of condo, the unit.

Expecting sustained double digit annual appreciation is unreasonable.

The stock market out performs real estate, over time. We cannot however live in our portfolios.
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Old 09-15-2014, 07:30 PM
 
Location: los angeles county
1,752 posts, read 1,643,139 times
Reputation: 1869
If I had the ability to predict the future, I would have made a gajillion dollars in the stock market.
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