Real Estate Information |
|
Real Estate Investing - Finding Cheap Houses
Real estate investing expertise can certainly accommodate the luxury home market. In some ways, the upper end of the housing marketplace produces easier success than the lower end. More skill, however, is required to sell the luxury home. But more important, supply and demand is critical in selling the luxury home. To get "stuck" with any home that does not sell easily can be treacherous, but sluggish sales for the luxury home can be disastrous. "Cheap homes" are at the other end of the housing spectrum. "Cheap homes" abound everywhere. Every community in the country has cheap homes, because the predominance of the population lives in inexpensive housing. More people comprise the middle and low income bracket than the high income bracket. "Cheap homes" is a very ambiguous term that is relative to an area. For example, "cheap homes" have lower value in a rural community than in a populous area like New York City. But even adjoining counties in any State may maintain different definitions of "cheap," even though separated by only a few miles. "Cheap homes" do not reference slums or ghettos necessarily. Real estate investing in these areas might embrace federal grants or HUD Section 8 housing. My focus in this article is the use of "cheap homes" as a starting place for a real estate investing career. "Cheap homes" in this article is NOT the bank "red lined" crime area, or where drugs and prostitutes are rampant, or where housing has been severely abused or neglected by property-owners and/or tenants. And "cheap homes" in this article is not the burned-out or dilapidated building. My definition of "cheap homes" for the beginning real estate investor is the less-expensive housing that accommodates the middle or middle-low class citizen. The demand for this housing is usually high and constant. The risk for real estate investing is usually low. And the effort needed to penetrate this marketplace is easiest. I get occasional calls questioning the existence of "cheap homes" in certain parts of the country. These calls usually come from California and certain states in the northeast like Maryland. The caller has read my web site and challenges me, "You can't find a cheap house here!" Now, we all recognize that the medium pricing index for housing varies all over the country. "Cheap" means a different price to everyone. But the outcry of these challengers is that Los Angeles has no "cheap" houses, with its average housing cost exceeding $600,000. Here's my response to these callers. Drive into downtown L.A. and locate the city's tallest office building. Find the janitor. Ask him where he lives, or follow him home. He may drive out 25 or 50 miles from work. But he knows where the "cheap home" can be found. He has already done the research. He has done his homework. He has found decent housing for his family, and it's not in a high crime area. Drug dealers, prostitutes and pimps are not roaming the streets. The houses are not beat-up and deteriorating. He has a good job and a decent salary, he is middle class, and he has found a "cheap house." Chances are, his whole neighborhood is a good target area for searching out a "cheap house" for starting a real estate investing career. These properties can be found everywhere. I live in Nashville, Tennessee and not in Los Angeles. Housing is a little cheaper in the South. I bought $1 million in "cheap houses" during each of my first two years when I started my real estate investing career. I had acquired $10 million of these "cheap houses" within 4 years. I'll bet the ranch that I could duplicate that same success in L.A. or any area of the country. Real estate investing is real estate investing, wherever you live, and relatively speaking, "cheap houses" abound everywhere. I contend that "cheap houses" are the lowest risk property for beginning a real estate investing career. And I argue that "cheap houses" can be found all over our country. Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. His net worth was $2 million in only his third year of investing. He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report at http://www.CashinHouses.com/.
MORE RESOURCES: How real estate commission changes could affect buyers and sellers The Washington Post Real estate experts share a message for home buyers as they predict rising home prices through 2025 Fox Business Blackstone's Beleaguered Real-Estate Fund Stems Exodus The Wall Street Journal Judge Approves $418 Million Settlement That Will Change Real Estate Commissions - The New York Times reAlpha Tech Corp. Launches Claire, Real Estate's First AI-powered, Zero-Commission Smart Buyer's Agent Yahoo Finance $5 billion real estate firm St. John Properties opens Dallas regional office The Dallas Morning News Agencies' headquarters in DC remained 'nearly empty' in 2023, real-estate board finds Federal News Network Top 23 real estate apps for agents in 2024 HousingWire Collins: The changes in the real estate industry you need to know - San José Spotlight San José Spotlight The East End Real Estate Market Report: 1Q 2024 Corcoran Inhabit A Recent Settlement Could Change the Way Real Estate Agents Are Paid Milwaukee Magazine Just $5.4B in U.S. Office Real Estate Sales in Q1: Report Commercial Observer Danielle Lombardo Appointed as Chair of Real Estate, Hospitality, and Leisure Division at WTW - Risk & Insurance Workers Comp Forum Inked: Recent LI real estate deals Long Island Business News Reversing the Real-Estate Doom Loop Is Possible. Just Look at Detroit. The Wall Street Journal real estate market and insurance Sacramento Appraisal Blog Law Firm Real Estate Report Law360 The Top 3 Real Estate Stocks to Buy in April 2024 InvestorPlace Real Estate Roundup: 'The Cove' in Hume sells for nearly $19M and more Fauquier County transactions Fauquier Now Public records: Muskingum County, Ohio, real estate transfers Zanesville Times Recorder New national real estate scholarship goes to local youth ECB Publishing Ask The Expert: Vienna shares updates on real estate relationships, fees Niagara Frontier Publications Real Estate Transactions: April 26, 2024 The Recorder The Folly of China's Real-Estate Boom Was Easy to See, but No One Wanted to Stop It The Wall Street Journal 9 Ways Rich Real Estate Owners Save Big on Estate Taxes Business Insider Real Estate Group Plans Anti-Transfer Tax Campaign Banker & Tradesman Home in Silver Hills North an oasis in Prattville | REAL ESTATE Montgomery Advertiser Century 21 Four Seasons Realty expands commercial real estate services Bonner County Daily Bee Yo La Tengo, Real Estate and more to perform at Woodsist Festival in Accord in September The Daily Freeman @properties Christie's International Real Estate Taps Industry Leader to Expand in Fort Worth - CandysDirt.com CandysDirt.com Real Estate Minute – 04-25-2024 KFDX - Texomashomepage.com Florida & Texas Housing Market Slowdown: Prices Stall as Inventory Piles Up Norada Real Estate Investments JWB Real Estate Companies Announced 2024 Home Giveaway FirstCoastNews.com WTLV-WJXX Jacksonville Police & Fire sets private credit, non-core real estate pacing plans Pensions & Investments New Mexico SIC commits $250m to real estate funds IPE Real Assets Top residential real estate sales for April 8-12 in Sarasota, Siesta Key, Palmer Ranch, Osprey, Nokomis Your Observer Homes for Sale in New York and Connecticut The New York Times Rockford Is Now America's Top Housing Market After an Improbable Turnaround The Wall Street Journal Real Estate Report: Mortgage rates see new high above 7% Hawaii News Now Anywhere Real Estate Inc. (HOUS) Reports Q1 2024 Financial Results Amidst Market Challenges Yahoo Finance 200 Housing Markets Are Predicted for Price Decline: Zillow's Report Norada Real Estate Investments Prominent Properties Sotheby's International Chatham Borough and Chatham Township Real Estate Report TAPinto.net Business Brief: Local Agents Honored by Weichert Real Estate Affiliates, Inc. for outstanding performance The Commercial Dispatch Rockford Shocks Nation: Now America's Hottest Housing Market Norada Real Estate Investments Real Estate Development Firm Seeking Community Input For Honey Creek Road Property in Rockdale County News-Daily.com How office market challenges could affect community banks - Milwaukee Business Journal The Business Journals Top Transfers: 65,000 sq. ft. Dublin property sells for $7.85 million The Columbus Dispatch First-ever rural-focused Real Estate Development Boot Camp aimed at emerging housing developers Second Wave Michigan Real Estate Development Firm Seeking Community Input For Honey Creek Road Property in Rockdale County Rockdale Newton Citizen Milwaukee Tool's downtown office named Milwaukee Business Journal's Real Estate Awards Project of the Year ... The Business Journals Manhattan Real Estate Update: "Embrace the Boredom" westsiderag.com Final Offer Launches in Canada Bringing Transparency to the Canadian Real Estate Market Yahoo Finance Pro boxer Caleb Truax retiring to become Twin Cities real estate agent - Minneapolis / St. Paul Business Journal Minneapolis / St. Paul Business Journal Real estate transfers GoDanRiver.com Nearly 30% of $32M project by N.C. A&T Real Estate Foundation, Cone Health already paid for through tax credits ... The Business Journals Middlesex County Real Estate Market Shows Robust Growth Amid Favorable Economic Conditions TAPinto.net |
RELATED ARTICLES
Using Color Psychology to Sell Your Home When painting your home for resale, choosing the right colors can make a huge difference in your paycheck at closing. For instance, did you know that the exterior color of houses selling most quickly is a certain shade of yellow, but that choosing the wrong shade of yellow can kill a sale?You'll find many brochures in paint stores, showing various combinations of exterior paint colors. How to Build A Rental Property Money Machine If you are looking for a steady, income-producing investment that isn't dependent on the ups and downs of the stock market, rental property is just the investment you're looking for!As lucrative as owning rental property can be, the wrong property can be a bottomless money pit. You need to know how to go about locating property, finding tenants, managing the rental, and how to make your investment profitable. Real Estate Investing - The Marvel Of Home Depot And Lowes Repairing a rental home (or your own home) use to require running down to the local hardware store or to the nearby building supply house. After several stops around town, you found everything you needed to solve your maintenance problem. Lease Options or Rent to Own? Finding a rent-to-own house is one of the many ways someone with bad or no credit can buy a house. You will often find them called names like lease/options, lease with option to buy, lease purchase, lease 2 purchase, rent with option to buy, rent to own, or rent to buy homes. Lake Property in Danbury A lakeside vacation or second home can be a quiet and relaxing place to escape to, or simply a good investment in your financial future. Whether you enjoy the outdoor activities and recreation provided by one of Connecticut's beautiful lakes, or you just want a place to get away from it all, there is a lakeside home for you in Danbury. Residential Property Abroad It is increasingly common for individuals to own more than one property and in many cases the first investment after the family residence is in a holiday home. Whether you are buying a place in the sun, a country retreat or a city centre apartment, if it is in a foreign country you will be exposed to an unfamiliar legal system and to taxes in the country concerned. Secrets of Making Money from Real Estate - Part 1 There are three investment vehicles which can make you rich. Stocks, businesses, and real estate. Land for Sale Think owning land would cost a fortune? Think again! While land prices on the extreme coasts motors upward, there are millions of parcels for sale throughout the USA that can fit into anyone's budget. There is probably a land deal that could make you a profit happening right under your nose right now. Vegas: The New Frontier Unless you have been living in Siberia, you know that Real Estate is on fire in many places around the country. In fact, you would be hard pressed to find a city where this was not the case. Peace of Mind for Home Inspections: Choose the Right Inspector! As sure as the spring flows at The Fountain of Youth, home inspecting provides a stream of knowledge to wash away the fears of home buyers. But fear may be replaced by frustration if the wrong inspector is chosen! Some pointers on selecting your next home inspector will go a long way toward making the process a happy one. Investment Property Part 2 of 2: What You Need to Know Before You Buy Welcome to the second portion of a two-part series on investment property. In the first installment, "How Not to Become a Slumlord", we discussed a little of what it takes to own and operate a property as well as some of the do's and don'ts of the property management trade. Industrial Income Property Financing: Part 3 of 3 Financial ConcernsOf the three types of income property, industrial property requires the greatest degree of technical expertise and experience. Likewise, financing the acquisition of an industrial income property can be, at best, very risky without adequate planning and know-how. Should You Use a Property Management Company or Manage Your Real Estate Investment in Florida? When considering investment properties, first of all, it must be determined that it is profitable and a good idea to purchase rental properties. Let's talk about this aspect. Dont Sell Your House--Ever! Keeping your existing house when you buy a new one could be THE most profitable financial decision you could make. Consider the following:1. Selling Your Own Home - Pet Issues If you are selling you own home, you need to consider the effect of pets. People who are working with a real estate broker are sure to get coached about the potential negative effect of pets. Cheap Homes For Sale In Great Towns Good Homes Under $50,000? My wife Ana and I found cheap homes for sale all over the country during a seven-week drive, and we even bought one along the way. It was in a pretty little town in the mountains of western Montana, and it cost us $17,500. Fixtures Fixtures, related to real estate, are items that were originally personal property but are now attached to the property itself. This becomes the toughest issue when tenants attach fixtures to a property. The Person With The Most Money Wins! More money can mean better:- Health Care - Relaxing Vacations and Adventures - Education for your children or yourself - Better home than you have nowBest of all it can reduce stress from not having to worry about money!Many of us have problems in life that additional cash will help solve the situation. Did you know that 80% of problems in life could be simply resolved with additional cash. Houses For Sale By Owner - Negotiating Tips Houses for sale by owner, also known as "FSBOs," are a unique case in real estate investment. Buying from an uninformed seller who thought he knew enough to handle everything by himself can be frustrating. Boston Real Estate - Interest Rates and Inventory Must be Analyzed when Selling Your Boston Home When selling your Boston home, it's good practice to be aware of what similar homes in your neighborhood have recently sold for. Recent comparable sales are not only what a good Boston real estate agent should use for guidance when pricing your home, but also what a bank appraiser will use if and when your buyer applies for a mortgage to buy your home. |
home | site map |
© 2006 TIGER MEDIA |