Real Estate Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

Look Past the Bottom Line for a Propertys Potential


It's unfortunate that many real estate investors tend to look at the bottom line when deliberating about a property, rather than the big picture. The real moneymakers in real estate investments are the people with vision, who think creatively, and are willing to assume some level of risk.

A client's initial line of questioning about an investment property goes something like this: What has the property's revenue been for the past three years? How much money will they make starting out? and, How much will they have to invest in the property in the beginning? These are all valid questions. After asking and answering them, investors might try taking off the blinders and thinking outside of the box.

Our population is growing, and land -- unlike cars, furniture, or other structures -- cannot be remade.

Real estate investors might ask themselves these simple questions:

1. Is there growth in the area where the property is located? Is there anywhere for the growth to go? If so, is it headed towards your property's location?

2. Has the city or county zoned the are for revitilization or economic development? If so, are there any special funds or benefits available?

3. Is the property accessible to public transportation?

4. Are people beginning to look for homes in this area? If so, investors want to be looking far in advance of others to secure the best property deals.

5. Is the property value in the neighborhood in a slump or an upswing? Purchase during a slump for maximum profits.

The truth is, an investor not make a profit from the property for the first two years. Investment property owners should be looking at the long-term, because they may make money over the next 15 years, while others are not.

Check County Records for Property Value

Do your research, or hire a REALTOR who is motivated to do it correctly. Speak to neighbors to understand the benefits of living there. Look at the neighborhood surrounding the area, and try to determine if those homes have increased in value. For a solid indicator, consider county property tax figures. In some areas you will find a slight increase in the tax base of 1-3%. In other areas, like Williamsburg, Virginia, taxes have increased 15-13%. Tax base increases are linked to improved property value.

Are Revitalization Funds Available?

If your investment property venture is a legitimate business, contact the local Chamber of Commerce and county government to see if there are special funds available for revitalization projects. Most Chamber of Commerces provide such programs as well as classes where investors learn how to access these funds.

There are lots of great examples of properties with potential. I'd like to share some background about one of my own listings, a motel in Williamsburg that has not been open for three years. The owners do not know when it was built - probably in the 50s or 60s. The motel sits on 2 1/3 acres of land, which is all zoned commercially. The motel is situated right on a main thoroughfare that was once called "The Golden Mile" of Williamsburg. It's geographic location is near York County a phenomenal leader in economic development. York County is enticing businesses by zoning the northern section of town commercial and it will be the site of the new hospital complex that is currently housed in Williamsburg.

Thinking Outside the Box

An important fact is not widely known about the motel's location, which is key to its investment potential. One mile from the motel property, across from the Williamsburg Pottery, a gated senior community with full amenities (golf courses, recreation center, pool) will break ground in April 2004. The Fortune 500 Company behind the building of this project is set to build 3,000 homes, with an estimated completion date of 2006. Scanning the area, it is obvious there are no European Bakeries, international shops, or stores and eateries which deliver (drug stores, groceries, take out, etc.). A strip mall with leasing options for different businesses, or even an extended stay hotel could be built on this land, and run for a profit. Investors I have shown the property to are wary of the $1,000,000 price tag on the motel. In the coming years this price will seem like a steal for commercial property in the area.

There are many other examples of properties whose potential have not yet been discovered. Remember, once you land that investment property of your dreams, make sure you have a marketing plan, which includes a decent web site, to launch your business. When speculating, trust your creativity and vision, and rely upon the expertise of a REALTOR who knows the area, and shares your vision.

About The Author

Elaine VonCannon is a REALTOR with RE/Max Capital in Williamsburg, Virginia, and she manages investment property as part of her business. Her husband Joe is a contractor who collaborates with her on rehabilitation of properties. She has helped numerous clients invest in and make money on property investments in Southeastern Virginia. vonmor1@cox.net


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Forbes

7 Real Estate Tools Entrepreneurs Should Know About
Forbes
As an entrepreneur, I'm asked more about my investments in real estate than almost any other question because other entrepreneurs love to know about areas of passive income they can look into to hedge against the entrepreneurial risks they take. Last ...



Real estate transfers: Reported July 22, 2018
Herald-Whig
Real estate transfers recorded in the office of Adams County clerk and recorder. Quincy area. Priscilla A. Moffit and Tiffany A. Nowacki, property at 1407 Cherry St., to Julie E. Nebe. Kristen L. Cook and Ryan M. Cook, property at 1501 Adams St., to ...



Omaha World-Herald

Real estate transfers, July 22
Omaha World-Herald
Waterford Development LLC to Knape, John and Dewester, Gay, 7014 N. 153rd St., $32,000. Celebrity Homes Inc. to Selvaraj, David Nallathambi Thampi and Nallathambi, Abithasanthi David, 16471 Read, $299,730. Baranko Inc. to Fuller, Brian and Deborah ...
Real estate records, 07/22/18Lincoln Journal Star

all 2 news articles »


MassLive.com

Real estate transactions for Hampden, Hampshire and Franklin counties: July 22, 2018
MassLive.com
Agawam. 1762 LLC, to Stuart Amusement Co., Main Street, $255,000. U. S. A. Housing & Urban Development to Lilia Aliyeva, 72-74 Riverview Ave., $200,000. Karen Brunelle and Karen M. Brunelle to Russell J. Bernard and Meredith M. Bernard, 1101 North ...



New York Post

Landlord critic James raking in cash from real estate interests
New York Post
After shaming the city's “worst landlords” for years, Public Advocate Letitia James is hauling in donations for her state attorney general campaign from developers, management companies and other real estate interests. The real estate industry has ...



TheStreet.com

Closed-End Real Estate Funds Are Performing Well
TheStreet.com
Resource Real Estate Diversified Income's eight funds saw gains in net asset value in the second quarter ranging from 6.4 to 6.8%. RMR Real Estate Income Fund saw 5.2% growth in the second quarter, while the four Total Income + Real Estate funds are ...

and more »


REAL ESTATE TRANSFERS
Youngstown Vindicator
Kimberly A. Iudicciani to Village Realty LLC, E. Water St., Lowellville, $40,000. Dennis E. Phillips to Anthony P. Phillips, Radcliffe Ave., Austintown, $90,000. Sharon J. Rich et al to Gregory S. Razo, South Ave., Youngstown, $36,000. Patrick E ...



Forbes

Secure Preapprovals To Win Commercial Real Estate Deals
Forbes
The 2017 Commercial Real Estate Lending Trends Survey by the National Association of Realtors® confirmed that only 30% of all commercial real estate transactions are all-cash. That is why for the vast majority of transactions, the prospective seller ...
Video From 1991 Imagines What Real Estate Agents of the Future Might Look LikeGizmodo

all 3 news articles »


RisMedia.com (press release)

Using IGTV for Your Real Estate Business
RisMedia.com (press release)
While in its infancy stages, IGTV is an excellent platform for listing videos, open houses and casual videos showcasing the day-to-day happenings of a real estate professional. Beyond that, real estate professionals that utilize this feature will ...



The Tribune

Real estate is king, policy or no policy
The Tribune
The business of land and property is not called 'real estate' for nothing. By now, nearly all — rich, middle class, and poor — would have realised that no other estate, whether executive, legislature or judiciary, can rein in this 'real power'. Even ...


Google News

home | site map
© 2006 TIGER MEDIA