Top places to invest in real estate

WICHITA FALLS, LUBBOCK, AUSTIN – As you look for investment opportunities in 2014, take a moment to look beyond your local market, according to Brian Kline, real estate investor who lives in Lake Cushman, Washington.

Wichita Falls, Texas, is an oil town with money. But more than that, nearby Sheppard Air Force Base provides a steady stream of renters.

In this expansive prairie region of Texas, home prices are cheap with a median cost of $84,000, according to RealtyTrac. A 1,700-sf house recently listed for $89,900. Houses that size easily rent for $1,000 or more. The average return on investment in this region is 13.4 percent.

In Lubbock, Texas, 2,100-sf homes again being rented to oil workers and in this case to college students that are delivering an 11.8 percent return on an average investment of $111,000.

College towns almost always make a good investment. Syracuse, N.Y. is a good example where you can expect a 10.9 percent return on your average investment of $120,000. That’s about $90,000 below the national average.

Very close behind Syracuse is Oklahoma City where houses are a touch more expensive but average rents are approaching $1,200. Here you can expect a 10.8 percent return on your rental investment. These are newer houses built around 2009 requiring very little maintenance.

Take a close look at the Austin region. The fact that the average cost of a house drops to $158,000 and rents dip to $1,400 still means you make an annual return on your investment of 10.7 percent.

Large houses in the range of 2,400 sf are in the heart of Dell Computer headquarters country.

According to Kline, much of the research was recent information provided by RealtyTrac.

Read more at RealtyBizNews for other U.S. cities.