Archive for November, 2008
84,000 properties repossessed in October Alone
Foreclosures in October up by 25% over the same time last year with more than 270,000 homes getting a foreclosure notice in October.
Market Ripe for Real Estate Investing
With the new very strict lending standards bad economy and lower dropping home prices real estate investing has never offered a better time. With millions of properties filling the banks the time is now for beginning real estate investing. By beginning real estate investing you with some money will be able to scoop up deals on multiple properties in one scoop.
Real Estate Foreclosures
Real estate foreclosures are the collateral damage and are the result of the bust in the financial markets. The government’s $700 billion financial rescue plan is not going to do anything for all the properties in trouble. Real estate foreclosure investment is like leaving the top off the cookie jar for the savvy real estate investment strategy. The time is now to plan your own real estate investment strategy.
One Strategy in a Real Estate Investment Program
Start a real estate investment program with the distressed home owner in mine. In some cases you may already have a tenant to pay rent for your property investment. With the deals of 40 to 75 cents on the dollars starting to pop up there has never been a better time to start a real estate investing business.
The government plans for housing solutions for the troubled home owners will not even fix 50% of the problems. But the door is wide open for the savvy real estate investors.
Where is the Best Property Investment Opportunity?
The states with the top real estate foreclosure rates are Arizona, Florida and Nevada are the places to find the best property investment opportunity. With the whole country in trouble distressed real estate properties are everywhere. Other states in the top foreclosure rates were California, Colorado, Georgia, Michigan, New Jersey, Illinois and Ohio.
Property Hotspot for Investing in Real Estate
In Florida it the metro areas Cape Coral, Fort Myers, Miami, Fort Lauderdale are the property hotspots. In California the property hotspots are Merced, Modesto, Riverside, San Bernardino and Stockton. Also another city hotspot is Las Vegas because it had the highest foreclosure rate in October of all.
Pros and Cons of Rental Property.
by John Krol CEO Boomers Bank
Investing in Real Estate is the Best Move?
Okay, so it finally hits you that investing in real estate is the best possible move you can make with your money. With your heart is set on buying an apartment building, your search for reading material on the topic has brought you to this article. So what do you need to consider when making this investment?
How to Have a Successful Investment
For your investment to be a success, you need to think of the building's use for you as well as for your tenants. Hence, you need to also put yourself in the shoes of your customers, i.e. your tenants. To kick start things, first attain information on the demographics of the area in which you want to invest in. This should give you a basic idea of who your target audience is and will also allow you to build a general profile of your typical tenant.
Consider the Needs of the Tenants
With that profile in mind, think then of what the average tenant would need if he/she lives in your building. For starters, regardless of who you rent out to, people will always need basic amenities near by. Thus, you have to ensure that the apartment building you buy is located near a grocery store, entertainment facilities, medical facilities and the like. You should note that although people might have cars, they won't like driving for more than 10 minutes to get the basic necessities. For example, in an emergency situation, no person would like to drive more than 10 minutes to get to a hospital.
Study the Demographic for Success
Following the universal needs, you need to look a little more closely into the profile you have outlined. The more you breakdown this profile, the greater will be chances for success. For instance, if currently you feel that your building will primarily be occupied by families, then you should study the demographic data carefully to figure out what kind of families are we talking about. Will the families be newly married couples or families with school-going children? If it's the former of the two cases, then your building should ideally be located near a good quality daycare center. Meanwhile, if it's the latter of the two cases, then you will be best positioned if the building is a near a good quality school.
Stay in Your Comfort Zone
Use is possibly the most important factor when one is to make a purchase. Combine that with customer profiling, and you have the recipe for success. However, always remember that you shouldn't venture outside your comfort zone unless you absolutely have to. Comfort zone here refers to areas with which you are familiar and have possibly had experience in previously. This point is important always but even more when you are initially starting out as a real estate investor. When starting out, stick to what you know and try out new things only when you feel you have a handle on the situation. And always, always, keep your eyes and ears open to absorb whatever information you can about your location so that you are never left in the dark.
About the Author:
Boomers-Bank http://www.ira-401k-realestate.com/IYF-Video-Opt-In/" The number 1 Investor's Guide to Commercial Real Estate and Retirement Planning How to Invest In Commercial Real Estate Using Your IRA or 401(k)Maximize Your Profit and Save For Retirement and Produce CASH FLOW now http://blog.ira-401k-realestate.com
Learn the Pros and Cons of Rental Property
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