The companies are pulling in money from clients in costly coastal markets that is boosting demand and home prices in the lower-cost cities they target. “In the last 12 months, I’ve seen more cash buyers from California than I’ve ever seen in my career, and I’ve been doing this for 25 years,” said Anne Callahan, a real estate agent in Cleveland, Ohio, where the average rent for a single-family home is up 4.2 percent over the last year, according to Zillow Research.
Sourced through Scoop.it from: www.reuters.com
This type of investing is not for the faint of heart and I always suggest taking a basic real estate investment class from a local investment group for tips on out-of-state investing. San Jose Real Estate Investment Group is one recommendation.