Latest news with #AustinGlanzer
Yahoo
3 days ago
- Business
- Yahoo
5 Affordable Mountain Towns for Retirees in 2025
A quick search on Zillow or Redfin at famous mountain towns like Aspen or Breckenridge is enough to scare off all but the wealthiest retirees. Discover More: For You: But if you love hiking and skiing, love lakes and rivers and historical downtowns, where can you find mountain life on a retiree's budget? Average rent: $1,317 Average home price: $403,946 Less than an hour's drive from Salt Lake City, Ogden has everything you'd want in a mountain town. Ogden offers easy access to Powder Mountain and Snowbasin ski resorts. Then there's the 13,000 acres of nearby lakes woven together by rivers, for endless fishing and paddling. Finally, the historic 25th Street features art, great dining, and entertainment. Check Out: Average rent: $1,650 Average home price: $327,006 Safe, walkable and surrounded by nature, Chattanooga fits the bill for many retirees. 'Chattanooga gives you incredible value, remaining under the radar which keeps home prices reasonable,' explains Joshua Eberly, owner of We Buy Homes Pinellas. 'Retirees can enjoy a high quality of life without sacrificing access to healthcare, dining, or outdoor activities.' Average rent: $1,783 Average home price: $276,691 Known as the 'Little Switzerland of America,' Jim Thorpe offers the rare combination of historic charm, community and affordability. 'Jim Thorpe feels like something out of a storybook,' notes Austin Glanzer, real estate expert with 717HomeBuyers. 'You've got cobblestone streets, a thriving small business scene and endless outdoor activities including hiking, kayaking or just enjoying the changing seasons.' Nestled in the Poconos Mountains, retirees can also enjoy plenty of nearby skiing, with access to both Philadelphia and New York City. Average rent: $1,783 Average home price: $557,024 Woodland Park sits just 40 minutes from Colorado Springs — close enough for city access but far enough to feel remote. Real estate broker Andrew Fortune of Great Colorado Homes names Woodland Park as one of the best Colorado mountain towns right now. 'Many mountain towns in Colorado turn into expensive tourist cities with too many second homes for wealthy people. That drives prices so high that the towns have to subsidize housing to get locals to live there to work in the town,' Fortune explained. 'Woodland Park does not have that problem. It's charming and affordable, but not so far off the grid that you miss out on infrastructure.' Average rent: $2,110 Average home price: $490,724 Set in the Blue Ridge Mountains, Boone features four seasons, endless outdoor activities and a walkable downtown. The Greenway Trail offers easy but scenic hikes for older seniors, while Grandfather Mountain provides more rigorous hiking. 'Boone strikes a rare balance,' observes George Shada, owner of G&R Investment Group. 'It's peaceful and quiet, yet culturally vibrant thanks to the university. Unlike many mountain towns, it hasn't been overrun by tourists or priced out everyday people. For retirees who want beauty, community and livability on a budget, Boone should be near the top of the list.' Editor's note: Average rent and average home prices sourced from Zillow. More From GOBankingRates 6 Big Shakeups Coming to Social Security in 2025 5 Types of Cars Retirees Should Stay Away From Buying This article originally appeared on 5 Affordable Mountain Towns for Retirees in 2025
Yahoo
3 days ago
- Business
- Yahoo
5 Affordable Mountain Towns for Retirees in 2025
A quick search on Zillow or Redfin at famous mountain towns like Aspen or Breckenridge is enough to scare off all but the wealthiest retirees. Discover More: For You: But if you love hiking and skiing, love lakes and rivers and historical downtowns, where can you find mountain life on a retiree's budget? Average rent: $1,317 Average home price: $403,946 Less than an hour's drive from Salt Lake City, Ogden has everything you'd want in a mountain town. Ogden offers easy access to Powder Mountain and Snowbasin ski resorts. Then there's the 13,000 acres of nearby lakes woven together by rivers, for endless fishing and paddling. Finally, the historic 25th Street features art, great dining, and entertainment. Check Out: Average rent: $1,650 Average home price: $327,006 Safe, walkable and surrounded by nature, Chattanooga fits the bill for many retirees. 'Chattanooga gives you incredible value, remaining under the radar which keeps home prices reasonable,' explains Joshua Eberly, owner of We Buy Homes Pinellas. 'Retirees can enjoy a high quality of life without sacrificing access to healthcare, dining, or outdoor activities.' Average rent: $1,783 Average home price: $276,691 Known as the 'Little Switzerland of America,' Jim Thorpe offers the rare combination of historic charm, community and affordability. 'Jim Thorpe feels like something out of a storybook,' notes Austin Glanzer, real estate expert with 717HomeBuyers. 'You've got cobblestone streets, a thriving small business scene and endless outdoor activities including hiking, kayaking or just enjoying the changing seasons.' Nestled in the Poconos Mountains, retirees can also enjoy plenty of nearby skiing, with access to both Philadelphia and New York City. Average rent: $1,783 Average home price: $557,024 Woodland Park sits just 40 minutes from Colorado Springs — close enough for city access but far enough to feel remote. Real estate broker Andrew Fortune of Great Colorado Homes names Woodland Park as one of the best Colorado mountain towns right now. 'Many mountain towns in Colorado turn into expensive tourist cities with too many second homes for wealthy people. That drives prices so high that the towns have to subsidize housing to get locals to live there to work in the town,' Fortune explained. 'Woodland Park does not have that problem. It's charming and affordable, but not so far off the grid that you miss out on infrastructure.' Average rent: $2,110 Average home price: $490,724 Set in the Blue Ridge Mountains, Boone features four seasons, endless outdoor activities and a walkable downtown. The Greenway Trail offers easy but scenic hikes for older seniors, while Grandfather Mountain provides more rigorous hiking. 'Boone strikes a rare balance,' observes George Shada, owner of G&R Investment Group. 'It's peaceful and quiet, yet culturally vibrant thanks to the university. Unlike many mountain towns, it hasn't been overrun by tourists or priced out everyday people. For retirees who want beauty, community and livability on a budget, Boone should be near the top of the list.' Editor's note: Average rent and average home prices sourced from Zillow. More From GOBankingRates 7 Things You'll Be Happy You Downsized in Retirement Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on 5 Affordable Mountain Towns for Retirees in 2025
Yahoo
04-04-2025
- Business
- Yahoo
These 6 Types of Real Estate Are Likely To Turn the Biggest Profit in 2025
If you're a current or prospective real estate investor, you may be watching the market with fear or unease. High interest rates and property prices can deter even the most seasoned investors. Explore More: Find Out: Fortunately, lucrative opportunities are still available. GOBankingRates asked several experts what kinds of real estate will turn the biggest profit for investors this year. People will always need a place to stay, whether for a week on vacation or multiple years to live. As such, Adam Hamilton, CEO and co-founder of REI Hub, said both short- and long-term rentals should be profitable this year. 'Short-term rentals only continue to grow in popularity for people traveling, as they can offer much better prices than hotels,' he explained. 'Long-term rentals always do well, but they may do especially well in 2025, as we could see a decrease in home buying due to the current economy and housing market. 'Whether you own an Airbnb, a vacation rental, a second home that you rent out or a handful of rental properties, you will probably see great profits this year,' he said. Consider This: Sometimes, investing in ugly, rundown real estate can produce beautiful results. Austin Glanzer, real estate investor and owner of Noble House Buyers, said, said off-market distressed properties are likely to offer the best opportunities this year. 'Distressed properties always have potential,' he explained, 'but with high interest rates, I think we'll see more sellers who need to get out fast. If you can buy at the right price, there are many ways you can make money.' If you're a young adult or don't have a lot of capital to invest, you may want to consider this advice from Cindy Leonard Stumpo, CEO of C Stumpo Development. 'If I were 24 today, I'd buy a triplex or fourplex, live in one unit and rent out the rest,' she said. 'Your tenants cover the mortgage, so you're building wealth while living for free. That's how you start in real estate when you don't have deep pockets.' You can turn a building into a multi-family home by remodeling its basement. Miguel Calvo, a real estate agent with The Calvo Team, said, 'If rent is high, like here in Nashville, there are families who will live in a remodeled basement. My tenant pays about $1,500 a month.' Instead of fixing and flipping million-dollar houses, consider catering to those on a budget. 'There is a huge opportunity in the market for savvy investors who invest in value-driven homes that the average consumer can afford,' said Dale Wills, owner and founder of Centra Companies and Central Capital Partners. 'Affordability is one of the biggest issues facing home buyers when it comes to residential real estate. This has priced many buyers out of the market and made homeownership impossible for a large segment of the population.' While residential properties can be money-makers, commercial properties can line your pockets, too. 'Self-storage facilities and car washes have low overhead costs compared to the revenue they bring in, making them easily [some] of the best types of real estate to generate a big profit,' said Laine Blackmon, branch manager at NV Capital Corporation LLC. She also pointed to data centers as a low-overhead investment. They can be expensive upfront, but modern technology and the growth of AI drive demand and make data centers likely to make a 'huge profit.' No matter what type of real estate you decide to invest in, the experts offered these best practices to follow. Wills encouraged investors to know their 'why.' 'Before making any decisions, real estate investors need to first consider their goals. Some investors are looking to build a retirement nest egg. Others want freedom from their regular day-to-day job,' he said. 'Determining your goals before you buy or sell a property will keep you laser-focused and improve your chances of success.' The whole point of investing in anything is to generate a return. 'You make your money when you buy, not when you sell. If you overpay, it doesn't matter how nice your renovations are. You will always struggle to make a profit,' said Glanzer. The contractors, property managers and other professionals you work with can make or break your real estate investing business. Calvo learned this hard lesson. 'I lost $50,000 from workers abandoning the project and pocketing my money. The court system did not enforce anything. Good, honest workers are so valuable,' said Calvo. Timing must be part of your investment strategy. 'For long-term investments, there's never a bad time to buy. If you hold for 10 years, you'll come out ahead. But real estate moves in cycles. Typically, it's eight years up and a few years down,' said Stumpo. You'll make better deals when you have all the facts. Wills said, 'Real estate investors should do as much research on the location as they can. No matter what asset class they invest in, location will always be a significant factor in the success or failure of the investment. Research the local economy, growth trends and property values to understand what's happening in the market.' You don't necessarily need money in the bank to invest in real estate. '[You] should consider leveraging debt to keep more cash on hand. Things like private or hard money can assist with short-term financing while [you have the] time to either sell [your] property or get traditional financing,' said Blackmon. Just like in life, in real estate investing, you should hope for the best but plan for the worst. 'There are so many factors out of your control when it comes to investing in real estate. The one thing you can control is your decisions. If you can't live with the worst-case scenario, then don't move forward with the investment,' said Wills. As an investor, you need to be patient and persistent. Glanzer said, 'Real estate isn't a get-rich-quick game. It's about buying right, executing efficiently and knowing when to hold or sell. I think you should focus on stacking small wins!' More From GOBankingRates Trump Tells Sean Hannity Why He Took Away One of America's Favorite Tax Cuts 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth Salary Needed To Achieve the American Dream in the 50 Largest Cities How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on These 6 Types of Real Estate Are Likely To Turn the Biggest Profit in 2025 Sign in to access your portfolio
