Phoenix, Arizona - Phoenix-based real estate investor, Chuck Hodge, is getting out of Dodge -- at least when it comes to purchasing investment properties and he thinks other investors should as well.
The longtime real estate investor, whose been buying and selling homes since 1989, is setting his sights on the Midwest, Georgia, and a few other states for rental properties where prices are much more affordable.
"Another potential housing crash, uncertainty from the upcoming presidential election, shrinking middle class, and baby boomers on fixed incomes are strong indicators to invest in areas where price points are much lower," he said.
Hodge is not on the doomsday bandwagon, but stresses that success in real estate is based on following trends. "I don't think this next housing meltdown will be nearly as severe as the one we felt in 2008, but I believe it will be significant enough that I should park my money in $20,000 properties in the Midwest or similar places that I can cash flow rather than in $200,000 or $300,000 deals in metropolitan cities. For me, it's all about risk tolerance and staying ahead of the curve. If other investors are thinking this way, they should"
Hodge suspects the presidential election will also have a large impact on the housing marketing regardless of whether Republican nominee Donald Trump or Democrat Hillary Clinton wins in November.
"If Hillary wins, I believe the country is headed towards socialism -- which could greatly stifle the real estate industry. Should Trump win, it may take a while for his policies to take effect and trickle down to investors like me."
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