What are the top U.S. cities for real estate investors and agents to visit for boosting their industry knowledge and finding new opportunities?
With as much as 90% of the population planning to travel this summer, there are certainly many real estate agents and investors, and CEOs preparing to take to the skies or road. Visiting new cities can offer a wealth of value for industry pros. From fresh inspiration, to marketing insights, understanding real estate cycles, making new connections, and uncovering new property investment opportunities, traveling can be one of your best uses of time. So what are some of the top destinations for real estate fans, and pros to add to their list?
1. New York, NY
Many real estate pros and investors want to see New York to admire its grand buildings, ultra-expensive apartments, and incredible architecture. However, there are other lessons to be taken from this world famous city. Spend 5 minutes around Times Square, and you will be made aware of the sheer volume of people that could be made into potential clients. Real estate is going to be in high demand, and go for seriously high prices just because of the traffic. You can have the worst pizza, and price it at 5 star resort prices and still be flocked with customers around the clock, because they have to eat. Consider the power of demand when buying and selling real estate and choosing a market to do business in. New York also demonstrates the shortage of land the world faces. There may be empty stretches of countryside just hours out of NY, but developers are constantly tearing down centrally located properties and rebuilding them with trendier, higher and more expensive price tags.
2. Detroit, MI
Detroit may not be on the top of many summer vacation lists, but it is currently one of America’s most fascinating cities when it comes to real estate. Detroit’s dirt cheap foreclosure and auction properties have captured the attention of the world. Getting boots on the ground provides an eclectic vision of a city with a lot of potential. Venturing a little farther out of the Motor City will also introduce visitors to an incredible area of real estate opportunities in solid neighborhoods and luxurious suburbs.
3. San Diego, CA
San Diego County, as a whole, is not only an enticing vacation destination, serving up an idyllic getaway for every possible taste, but also one of the nation’s hottest real estate markets. Discover mountains, lush valleys, beaches, amusement parks, smart business hubs, foreclosures, regal rural estates, and magnificent oceanfront homes. San Diego easily stands out as a top choice for mixing business and pleasure. The only downside is you may never want to leave.
4. Savannah, GA
Savannah, Georgia is one of America’s most unique, and underestimated cities. On the surface, Savannah is a seductively laid back Southern city with a far different pace of life than New York or San Francisco. Once inside its boarders, this historic city boasts a varied landscape of architecture, but has also become a hot spot for innovation and testing ground for new technology and retail companies.
5. Washington, DC
Washington may be among the least fun summer vacation destinations to navigate, but it does offer an interesting wealth of insights – providing you don’t need to try and park a car anywhere. The Smithsonian’s team of volunteers demonstrates that it is possible to deliver incredible, quality and friendly customer service with a smile, even after dealing with thousands of visitors. The commuting mayhem of DC shows why telecommuting and outsourcing has become so popular, and necessary. Vast amounts of apartment buildings actively vying for renters suggest that the area is ripe for those specializing in this niche.
6. Fort Myers, FL
Fort Myers, Florida might be best known as a popular Spring Break destination. However, beyond the beach and soaring vacation property rents, the area boasts both important lessons for real estate investors, and a wealth of low priced investment opportunities. Fort Myers acts as an international gateway to an incredibly diverse real estate landscape. The Regional South West Florida airport funnels in some of the world’s richest individuals to the wealthy, and elite communities of Naples, FL. Subsequently, downtown Ft. Myers remains a classic, depressed inner city. Across the bridge in Cape Coral are waterfront homes with deep water dockage at incredibly attractive, and undervalued prices. Moving a few miles inland, Lehigh Acres provides a snap shot of the fallout of the last boom and bust. In an almost exclusively investor owned community, brand new, never lived in single-family homes on large lots sit next to empty parcels waiting to be developed. Since the downturn, this area has grown into a robust rental and rent-to-own market with plenty of room for significant appreciation.
7. Jacksonville, FL
Despite being one of the nation’s largest cities, and being a hub for new business, Jacksonville remains off the radar of most real estate companies and investors. This has enabled some to achieve record setting profits on flipping houses.
