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Article: Psst! Wanna Hot Deal? Investors are buying rental homes in unlikely spots like Pocatello, Idaho. Why? Low prices.(Brief Article)
- Article from:
- Newsweek
- Article date:
- July 25, 2005
- Author:
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Byline: Daniel McGinn
Until a few years ago, Judy Peterson, a special-education teacher who lives near Sacramento, Calif., had never heard of Pocatello, Idaho. Nor did Peterson, 59, ever expect to own any real estate aside from her own home. But last year, tired of earning mediocre stock-market returns, she cashed in her retirement accounts and spent $120,000 on a three-family house in Pocatello. Then she bought another property. And another. Today, Peterson owns eight rental units in the city, which she's visited just twice. "I have friends who go, 'You did what?' " she says. But with rental income paying the properties' mortgages, she's pleased. "You can't ...
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