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: Landmark Settlement Breaks Up the Real Estate Cartel The American Prospect Top real-estate CEO sees decades of housing pain ahead: 'What the Fed did will have a 30-year tail on it' Yahoo Finance Commercial Real Estate's Systemic Threat: Separating Fact From Fiction Commercial Observer Rules that helped set real estate agent commissions are changing. Here's what you need to know The Associated Press Refined Real Estate: Historic Queen Anne Polson House lists for $6,950,000 seattlerefined.com The Realtors' Big Defeat The New York Times Luxury's Latest Battleground: Real Estate | BoF The Business of Fashion Seabold Construction Ties Demise to Dispute with Real Estate Developer Engineering News-Record Local real estate agents face uncertain future with new negotiation rules WJHL-TV News Channel 11 Investigation underway after 44-year-old real estate investor seen on video firing shots off boat docked at Lakeview ... WSVN 7News | Miami News, Weather, Sports | Fort Lauderdale Central Texas housing experts talk impacts from $418M real estate settlement - 25 News KXXV and KRHD Central Texas housing experts talk impacts from $418M real estate settlement 25 News KXXV and KRHD What National Association of Realtors agreement means for Texas real estate KAMR - MyHighPlains.com Rules that helped set real estate agent commissions are changing. Here's what you need to know KXLY Spokane A luxury agent on how the NAR settlement will change his business The Washington Post What Seattle-area homebuyers should expect after national settlement The Seattle Times National lawsuit could shakeup housing market, cut into real estate agent commission 11Alive.com WXIA CrewBaltimore’s mission to accelerate women’s success in real estate Afro American Newspaper Cities Face Cutbacks as Commercial Real Estate Prices Tumble The New York Times Swimmo Invest Opens up a New Chapter in the Real Estate Industry Markets Insider Will March bring more madness to Craven County's real estate market? New Bern Sun Journal Settlement will affect Iowa homebuyers KCCI Des Moines Realtor group will pay $418M to settle commission lawsuits The Associated Press Realtors Reckon With a Seismic Shift to How They Get Paid The Wall Street Journal Once America's Hottest Housing Market, Austin Is Running in Reverse The Wall Street Journal Realtors settlement to lower home sale costs, alter commission structure - The Washington Post The Washington Post Pension funds snap up real estate at steep discounts Financial Times National Association of Realtors Agrees to Slash Commissions to Settle Lawsuits - The New York Times A commission settlement may affect housing market 9News.com KUSA Israeli real estate event: Legal complaints escalate NorthJersey.com Making Sense of New York's Confusing Luxury Home Market The Wall Street Journal Illinois real estate: Home sales in Peoria, Tazewell, Woodford counties Peoria Journal Star Bay Area Real Estate Executive Charged with Wire Fraud, Identity Theft in Investment Scam - Hoodline What the death of the 6% real estate commission means in D-FW The Dallas Morning News Real estate commissions, unassailable for decades, could crumble after landmark settlement The Denver Post Foreclosures Are Rising—Especially in This One State—but Not for the Reason You Might Think - SFGATE Is the Era of the Celebrity Real Estate Agent Over? Industry Reacts to Settlement That Could Slash Commissions Hollywood Reporter China's Real-Estate Market Just Set a Record—but Not a Good One The Wall Street Journal Rules that helped set real estate agent commissions are changing. Here's what you need to know News10NBC Chicago Voters Face Choice on Tax to Fund Homeless Programs The New York Times Real estate lawsuit settlement upends decades-long policies that helped set agent commissions WQAD Moline Manhattan Real Estate Update westsiderag.com Realtors Reach Settlement That Will Change How Americans Buy and Sell Homes The Wall Street Journal The NAR Settlement's Impact On Commissions And Home Prices Financial Samurai Rules that helped set real estate agent commissions are changing. Here's what you need to know Antigo Daily Journal End of 6% real estate commissions could mean lower home prices The Atlanta Journal Constitution Artis Real Estate Investment Trust (OTCMKTS:ARESF) and Armada Hoffler Properties (NYSE:AHH) Financial Analysis Defense World A Look Into the Future of Home Buyers' Agent Commissions The Wall Street Journal Bridgemarq Real Estate Services (TSE:BRE) Share Price Passes Above Two Hundred Day Moving Average of $12.93 Defense World Agent Migration and the Power of New Mike DelPrete National Association of Realtors to cut commissions to settle lawsuits. Here's the financial impact. CBS News Blackstone, World's Top Alternative Asset Manager, Eyes Record Highs Amid Real Estate Bottom Investor's Business Daily Antitrust ruling rocks real estate: Buyers brace for shift in commission structures Straight Arrow News 4 Ways a Settlement Could Change the Housing Industry The New York Times Real Estate Stocks Drop As NAR Agrees to $418 Million Settlement Markets Insider |
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 |