If investing in real estate seems like a business venture you'd like to take a chance at, the co-stars of the hit HGTV series Property Brothers—Drew and Jonathan Scott—have some words of advice for exactly which areas in the U.S. you might want to start investing in.
“Don't go and invest across the country somewhere that you don't know,” Drew Scott said in a recent interview with Yahoo Finance. “Invest in a market that you know, because there are great areas in every city.”
For the brothers, they've found two growing cities they recommend as investing goldmines: Sin City and Music City.
“For us, we've really found where our headquarters are in Las Vegas and Nashville [are successful],” Drew continued. “Those are two of the most booming cities in the country right now. There's a lot of growth. And so we've been investing there.”
If you'd rather invest in an area closer to where you live, look for an area that's seen a boost in tourism over the past few years—for example, Waco, Texas is currently a great place to invest in due to the popularity of Chip and Joanna Gaines's Fixer Upper and Magnolia Market at The Silos.
“Seeing something that's diversified with tourism or a market that's diversified with the tourism industry is a very, very safe way to go," Jonathan Scott added.
Whatever city you choose, the Property Brothers give one last piece of advice—make sure it's somewhere you're familiar with!
Follow House Beautiful on Instagram.
You Might Also Like