Latest / Earn Your Leisure / Study Hall: Don Peebles’ List of the Top Real Estate Investing Markets for 2024

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Study Hall: Don Peebles’ List of the Top Real Estate Investing Markets for 2024 · Earn Your Leisure

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  Speaker 3: I'm interested now in twenty twenty four, what's on your
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  Speaker 3: watch list now? As far as real estate investing? What
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  Speaker 3: do you think of good place is to invest in?
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  Speaker 1: Well? I like Boston because it's I like I like markets,
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  Speaker 1: and I think this is important for people when they
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  Speaker 1: think about investments. What you want to be is in
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  Speaker 1: markets where there's supply constrained, there are multiple demand generators,
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  Speaker 1: meaning there's buyers, renters, you know, et cetera. In those
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  Speaker 1: markets that the job based is and the employment opportunities
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  Speaker 1: are more broad and and so you look in places
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  Speaker 1: like Boston. Good infrastructure, high areas to entry, good you know,
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  Speaker 1: strong educational environment and a growing population. I like New
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  Speaker 1: York because I think it's opportunistic. I think New York
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  Speaker 1: is down big time. It'll go down a bit more,
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  Speaker 1: but it's now beginning to be a time to buy.
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  Speaker 1: And in real estate, my view is that you make
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  Speaker 1: your money on the buy when you buy it, you
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  Speaker 1: make a good decision to buy it, and then you
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  Speaker 1: realize your profit when you sell it. But right now
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  Speaker 1: and in New York, you can buy properties that are
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  Speaker 1: like office buildings of retail. You can buy them at
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  Speaker 1: forty cents forty percent off and and so in those
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  Speaker 1: kinds of circumstances, all you have to do is make
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  Speaker 1: an investment, and then as a market stabilizes and recovers,
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  Speaker 1: then you are going to be up a significant amount. Washington,
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  Speaker 1: DC down office buildings and residential or down big time.
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  Speaker 1: But office buildings are down fifty percent. So I like
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  Speaker 1: that because there's a lot of upsides, and nations capitals
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  Speaker 1: the most powerful nations in the world. It was not
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  Speaker 1: going to fail, and if it did, then money won't
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  Speaker 1: be worth anything anyway. And then you start looking at Atlanta.
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  Speaker 1: I mean, Atlanta is a great city, always has been.
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  Speaker 1: It's a global city. It's there, it's at the number
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  Speaker 1: one filming location outside of Hollywood, and so it is
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  Speaker 1: dominating in that space and will continue to do that.
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  Speaker 1: You've got great, you know, wealth rating opportunities, it's a
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  Speaker 1: diverse economy, and you have amongst the most affluent African
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  Speaker 1: Americans in the country. So we like Atlanta. We think
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  Speaker 1: there's a lot of runway there. And then Charlotte, North Carolina,
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  Speaker 1: always underrated. It's kind of a combination of Atlanta, New
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  Speaker 1: York d C. Second, it's now the second largest banking
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  Speaker 1: capital of the world, of the country, rather New York's
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  Speaker 1: number one. San Francisco has always been number two, but
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  Speaker 1: because of its problems, the industry has moved out. Charlotte's
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  Speaker 1: now the number two banking center. Diverse community, led by
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  Speaker 1: a black mayor, chairperson of the County Commission, African American man,
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  Speaker 1: and our pro business and pro economic inclusion, and there's
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  Speaker 1: lots of opportunities here. It's a very rapidly growing city.
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  Speaker 1: So I like Charlotte. And then Miami in South Florida
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  Speaker 1: on fire. Miami's on fire. I think Miami's got to
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  Speaker 1: run because it's a It's building itself into the global
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  Speaker 1: center of a country, and at some point it'll be
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  Speaker 1: what New York was in its heyday. And then I
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  Speaker 1: think that San Francisco in La present tremendous buying opportunities
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  Speaker 1: because it's severely depressed and you don't have to build.
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  Speaker 1: You just can buy, invest and hold and then realize
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  Speaker 1: profits as things turn around, and they will turn around.
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  Speaker 1: So those are the markets that we like the most.
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  Speaker 1: And I like Texas. I do like Texas.
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  Speaker 3: Let me ask you this about Miami, even for my
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  Speaker 3: own personal knowledge base, would you think that right now
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  Speaker 3: is a good time because it's just prices are just
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  Speaker 3: going up, right, everybody's paying over asking Like, let's say
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  Speaker 3: I was looking to buy a place in Miami right now.
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  Speaker 3: Should I wait for a correction or buy even though
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  Speaker 3: it's overpriced because it's still going to just continue to
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  Speaker 3: go up.
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  Speaker 1: I don't think you see much of a correction in Miami.
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  Speaker 1: I think what you'll see is a slowdown in Miami.
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  Speaker 1: It would take a global financial crisis that to depress Miami. Now,
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  Speaker 1: Miami's got so much wind in its sales right now
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  Speaker 1: and it is desirable for it's got great fundamentals, good
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  Speaker 1: quality of life, but no state income tax, very pro
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  Speaker 1: business environment, multicultural, so it's got a lot going for it.
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  Speaker 1: So the way you invest in Miami is you look
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  Speaker 1: for anomalies. So for example, Miami Beach. We're studying this
• 6:24
  Speaker 1: right now. So Miami Beach, Miami Beach is before the pandemic,
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  Speaker 1: Miami Northeasterners would look at Miami as a vacation location,
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  Speaker 1: so you'd have a second home week and home, come
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  Speaker 1: down and spend the weekn in Miami and go back
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  Speaker 1: up to New York and work and earn your money.
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  Speaker 1: So being on the ocean was the most important thing.
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  Speaker 1: So today in the marketplace, it would not be unusual
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  Speaker 1: to have an ocean front condo selling for three thousand
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  Speaker 1: dollars a square foot. Across the street on the inner
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  Speaker 1: coastal you could find something that was selling for five
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  Speaker 1: hundred dollars a square foot and that so, yeah, the
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  Speaker 1: ocean's worth more, but is it worth six times? No,
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  Speaker 1: maybe it's worth three times. So there's runway there. And
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  Speaker 1: then also this market in Miami pays an absurd premium
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  Speaker 1: for new unlike say DC or New York or Boston.
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  Speaker 1: Older buildings are normal thing. They don't depreciate because the
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  Speaker 1: cost to build new goes up. But then there's not
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  Speaker 1: this big premium In Miami. There is, so a new
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  Speaker 1: building could sell for three thousand, for example. Now new
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  Speaker 1: buildings are selling for forty five hundred of square foot
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  Speaker 1: or more. On the ocean in Miami Beach, you can
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  Speaker 1: find a building that was built in two thousand and
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  Speaker 1: five and it could sell for two thousand dollars a
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  Speaker 1: square foot. So same ocean, same views. The building built
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  Speaker 1: in two thousand and five is in excellent condition. And
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  Speaker 1: yet and somebody's going to pay two and a half
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  Speaker 1: times more to be in the new building, which three
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  Speaker 1: years from now will be treated just like the two
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  Speaker 1: thousand and five buildings. So those anomalies is how you
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  Speaker 1: buy in Miami. And then the other thing you can
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  Speaker 1: do is you can look at locations, emerging locations at
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  Speaker 1: a butt more hot location. So you know, if you're
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  Speaker 1: looking at Wynnwood or the Design District or Midtown, you
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  Speaker 1: just go a little bit further west, and I think
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  Speaker 1: there's opportunity there, and it's tremendous opportunity. An historically black
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  Speaker 1: community called Overtown, which is where you know. Sammy Davis
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  Speaker 1: Junior when he was performing a Miami Beach had to
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  Speaker 1: stay where Muhammad Ali when he beached Sunny Liston for
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  Speaker 1: the championship, he had to stay in Overtown because it
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  Speaker 1: was of segregation. That community is severely undervalued and there's
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  Speaker 1: opportunity there too.
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  Speaker 2: I'm convincecding coming to Florida.
• 9:01
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• 9:06
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