T
he US housing market is experiencing a correction, with high demand and mortgage rates making it difficult for people to purchase homes. As a result, more individuals are opting to remain renters for longer, creating opportunities for real estate investors like Grant Cardone. Cardone, founder of Cardone Capital and author of the "10X Rule," focuses on multifamily properties in high-growth markets across the US.
On Yahoo Finance's Opening Bid podcast, Cardone stated that single-family homes are not investments, but owning rentals can provide a steady income stream to cover living expenses. He emphasized the importance of location, citing areas with strong job markets, good schools, and positive migration as top contenders.
Cardone identified five markets he believes will thrive: Nashville, Clarksville, Miami, Fort Lauderdale, Orlando, and Tampa. These cities offer a mix of economic stability, growth potential, and affordability, making them attractive for real estate investors. Despite the current correction in the US housing market, Cardone remains optimistic about these locations.
Here are some key statistics for each city:
* Nashville: Average home value $448,899, average rent price $2,250/month
* Clarksville: Average home value $326,319, average rent price $1,399/month
* Miami: Average home value $595,318, average rent price $3,200/month
* Fort Lauderdale: Average home value $524,139, average rent price $2,764/month
* Orlando: Average home value $383,548, average rent price $2,000/month
* Tampa: Average home value $380,451, average rent price $2,200/month
