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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: Gisele Bündchen's Houses: A Peek Inside the Supermodel's Real Estate Portfolio Architectural Digest Jon Stewart benefited by 829% 'overvalue' of his NYC home even as he labels Trump's civil case 'not victimless' New York Post Why S&P Cut Outlook for Five US Regional Banks With Heavy Commercial Real Estate Exposure Investopedia This new digital real estate platform wants to solve Denver’s unrealistic listing prices The Denver Post FBI is investigating Eastside real estate firm iCap, lawyers say The Seattle Times The Pipeline: Commercial real estate roundup for 3.29.24 RichmondBizSense Refined Real Estate: 1937 Colonial Broadmoor home lists for $2,595,000 seattlerefined.com Welcome to Real Estate Friday! theberkshireedge.com Real estate terms and commissions are changing – Cache Valley Daily Cache Valley Daily Changes coming to real estate commissions. What does it mean? Wednesday Journal Search the latest Macon County real estate transfers Herald & Review Inked: Recent LI real estate deals Long Island Business News Wylie High School offers new real estate class KTAB - BigCountryHomepage.com TU launches first in state Center for Real Estate Studies 2 News Oklahoma KJRH Tulsa Current Real Estate Roundup - March 28, 2024 Nantucket Current MAKING YOUR REAL ESTATE DREAMS A REALITY | Real Estate- Sale/Rent coastalbreezenews.com VIDEO | REAL ESTATE | Sneak peek inside the new Auto Safety Center South in West Bend, Wi washingtoncountyinsider.com Cincinnati real estate market: Realtors talk about spring season The Cincinnati Enquirer Cervera Real Estate opens Palm Beach, West Palm Beach offices South Florida Agent Magazine Kevin O'Leary Says a Coming Real Estate Collapse Will Lead to 'Chaos' — Here's What You Need To Know Yahoo Finance What you need to know about the NAR real estate commission lawsuit? Sarasota Herald-Tribune How New Rules for Real Estate Commissions Could Affect First-Time Buyers The New York Times Heiwa Real Estate REIT : Notice Concerning Change in Name of Asset under Management Marketscreener.com See How Commercial Real Estate Deals Are Being Cut As Debts Mount Business Insider Longtime Minneapolis real estate company to bring industrial buildings to Colorado Springs' east side Colorado Springs Gazette Christie's International Real Estate The Laurel Magazine of Highlands NC and Cashiers NC Many homebuyers are looking for homes with two primary bedrooms. NJ realtors tell us why NorthJersey.com Claremont Hotel bought by Ohana Real Estate from Fairmont Hotel and Richard Blum - San Francisco Business Times San Francisco Business Times William Means Real Estate Continues as a Leading Firm After 90 Years in Charleston - Charleston Business Charleston Regional Business Opinion | The Nature of the Real-Estate Business The Wall Street Journal Pummeled Blackstone Real Estate Unit Seems Poised for a Revival | Chief Investment Officer Chief Investment Officer The longtime Hamptons home of a late billionaire real estate developer now comes $25M cheaper New York Post Real Estate Report: Economists no longer predict significant reduction in mortgage rates Hawaii News Now Top-selling residential real estate team opens Petaluma office North Bay Business Journal Brooklyn real estate fraudster sentenced to prison after swindling victims out of nearly $1M • Brooklyn Paper Brooklyn Paper The Office Market Is in Turmoil. So Why Are Rents More Expensive? The Wall Street Journal Real estate giant Compass to pay $57.5M to settle clams it overcharged US home sellers New York Post SBI, Sumitomo Real Estate trial blockchain solution for property transactions - Ledger Insights Ledger Insights Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD) Short Interest Up 352.0% in March Defense World Ministers Smotrich and Regev Booed Off-stage at Eilat Real Estate Conference - Israel News - Haaretz Cape Girardeau voters to decide real estate, property tax levy for police, firefighter salaries KBSI Fox 23 Cape Girardeau News | Paducah News How will the NAR settlement impact the Buffalo real estate market? - Buffalo Business First The Business Journals REAL ESTATE | The Lofts at Cedar Lake include access to a 245-acre wooded campus washingtoncountyinsider.com Neuberger Berman Real Estate Securities Income Fund (NYSEAMERICAN:NRO) Share Price Crosses Above 50 Day ... Defense World Pending Home Sales Rose 1.6% in February National Association of REALTORS® Marin, Solano, Sonoma, Mendocino, Lake commercial real estate transactions: March 28 report North Bay Business Journal Vanguard Global ex-U.S. Real Estate ETF (NASDAQ:VNQI) Sees Large Increase in Short Interest Defense World Squatters 'claim everything to be theirs,' real estate agent says WPTV News Channel 5 West Palm KKR Real Estate Finance Trust Inc. (NYSE:KREF) Given Average Rating of “Moderate Buy” by Analysts Defense World Critical Review: InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) vs. Centerspace (NYSE:CSR) Defense World Law Firm Real Estate Report Law360 Jon Stewart, the Tribeca Trickster of Real Estate, by Tim Graham Creators Syndicate Real Estate Stocks: This Player In Buy Zone Investor's Business Daily Ridge Capital buys State Bar of California San Francisco office - San Francisco Business Times The Business Journals Realtor commission change delivers a boon to homebuilders, a blow to real estate platforms Yahoo Finance Check-Cap to Be Bought by real estate Marketplace Nobul The Wall Street Journal F&C UK Real Estate Investments (LON:FCRE) Stock Price Crosses Below 200 Day Moving Average of $93.40 Defense World |
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