Real estate in general has long been a way for Americans to generate wealth. However, most Americans don’t venture outside of their primary residence when it comes to investing in real estate.
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Owning a rental property in a hot market can generate both long-term capital gains and immediate cash flow. In many areas, rental income can far exceed the cost of the mortgage on the property. This means that you’ll essentially be paid to own a property as it appreciates in value. However, to reach this investment nirvana you’ll have to pick properties in hot areas that generate consistent rental income. Here’s a list of five areas that do exactly that.
The term “30A” isn’t known to much of the country outside the Southeast, but it’s a huge rental property area with room to grow. “30A” refers to the stretch of highway between the popular resort towns of Destin and Panama City, Florida, and it’s dotted with small communities full of charm and gorgeous views right on the sandy beaches of the Gulf of Mexico. While flanked by touristy towns overrun with people during peak season, the small communities of Santa Rosa, Rosemary Beach, Seaside and others ooze small-town charm yet still maintain the strengths of the industry, namely gorgeous beaches, delicious seafood and friendly locals. As more and more visitors desire “authentic” travel experiences, places like 30A are well-positioned to be great investments.
Mammoth Lakes, California
Mammoth Lakes, California is a small resort town nestled about 30 minutes south of the East entrance to Yosemite National Park. While it’s known primarily for having