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Rand: Invest in Charleston, S.C., and Grand Rapids, Mich.

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    OwnAmerica CEO Greg Rand on the best places to invest in real estate.

  • Duration 3:59
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Well April housing starts up two point 6% from -- of nearly 30% from last year.

Now the recovery may be taking hold with real estate investors playing a bigger role in all of that's.

So they're looking to join the ranks of those big -- real estate investors where should you invest your money right now.

On America's Gregory and joins me now with two of his top -- -- you believe that.

Because we're seeing so much cash investing in real estate this is a good time to be.

A direct investor and real -- right I would.

What -- a lot of people out there that have been coming off the sidelines not homebuyers but 27% of all the home sales last year were investors buying houses mostly to rent out.

It's I think people recognize the asset classes on a down cycle right now.

They recognize if you buy the right time and holds the markets get revived next year probably not but within eight or ten years almost certainly and so they're doing exactly that.

But here's the thing if you look at the housing starts -- an and I don't like the monthly data that's -- I don't know Maria.

But I must say I do look out -- it whacked on inching it was it was multifamily homes at a -- of our report this morning that's tells me.

That it's apartment buildings that are being built.

That -- -- can't get financing.

Major companies that build apartments right hand can you imagine -- Capital -- funds they're playing.

The decline in home ownership which is increasing rental household creation they're playing it by building multifamily apartment buildings -- kick it in on that Alicia buying -- -- read.

But the trend.

People who losing houses to foreclosure or getting out because of negative equity in the short sale she -- to to house.

And so the side of the transaction hold the small investor can get in on is buying single -- houses in good cities.

And that putting enough for rent for those home -- Okay you do you have to cities and I tell us the top be obtuse and if you like first like Charleston.

-- -- South Carolina pet beautiful setting it's a beautiful city yet we have a chart that shows a fifteen year home price chart for Charleston and when you look at this what you're gonna see is.

Very little evidence of the housing crisis it's okay they had they are rolled back to roughly 2005 prices right now and and and -- says the chart we're showing message -- -- -- eighteen years -- I think long term what you see.

The kind of city that produces a chart that that that's that's stable.

Is one that's got a high quality of life for low cost of living room and a lot of jobs coming.

And you say unemployment isn't what 1% Charleston they've also got the Boeing factor going on -- -- Example of big corporation going into -- right to work state winning a battle against the federal government to be able to to keep that -- your call right had to put out their first dreamliner just recently as a you've got a port expansion because the Panama Canal is adding.

They're adding -- they're very diverse.

City it also has the tourism of the historic downtown discuss the the coastline so.

That chart indicates there's -- to love about that city and act with jobs coming in that's housing demands -- in the future.

Nice friends from top -- -- that -- having me up -- You like and Grand Rapids, Michigan -- do that but this is a Detroit this is what's your mission that's part of the reason is that people.

When you hear Detroit -- hit Michigan -- think Detroit right unfortunately when you hear Detroit you think of broken down factories and graffiti united that's.

This is the western part of the state okay they're not as dependent -- depended on manufacturing the first place there the Grand Rapids is the leading city in Michigan for private sector jobs okay privately held company job growth unemployment -- six point 9%.

-- -- It also was a state -- would would believe more coastline in Michigan than California and Florida.

Console quality of life is good home prices are way down to 2000 levels right now.

Which means you can buy a house rented out for profit and then as western Michigan appreciates again over the next ten years -- ride that up it's a good returns.

Few seconds do you like people being out of town landlords.

Recommend it yes of the sort of circumstance of going to be close by UK you have to be very careful via our.

Greg grant thank you very much thank you very interesting topic Dennis now I don't know where should we -- some property that your investment money I -- move the panhandle of Florida yes Florida.

Okay.

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