Once having decided to invest in US property you should look at Forbes magazine who rate rental properties by city and state. Syracuse, Buffalo and Rochester consistently feature within the top 10 cities for rental real estate investment. This is because all 3 cities have large redevelopment programs and unemployment is relatively stable. These cities have been low cost housing zones for decades and have been less affected than higher priced areas.
It is possible to buy foreclosure properties for next to nothing but these are not really wise investments for those managing their properties outside the US. There are lots of empty and tenanted properties available usually 2,3 and 4 bedroom pre-war properties. Now by using Google street view and 3D birds eye view it is possible to have a really good look at both the proposed property, the condition of the streets, incidence of graphite etc., without ever thinking of visiting the area.
This research together with recommendations of local realtors as to districts, proximity to work, universities etc. can reveal a lot. Also if the property has a section 8 (SS) tenant it is regularly inspected by the Housing Authority to make sure its habitable.
If you go to the local authorities website you can see full details including a photograph of the property, numbers of rooms, value of the land and the resale values going back years. You also see the owners name and a record of the local tax and water bills and whether they are in arrears. It is a mine of information and is available at
City of Buffalo, http://www.ci.buffalo.ny.us/
City of Rochester, http://www.cityofrochester.gov/index.aspx?id=96
City of Syracuse http://www.syracuse.ny.us/home.aspx websites.
These websites are also very helpful as they contain lots of statistics and information about each of the cities.
These are all the background checks you would undertake to acquire a property in the UK.
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