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by Mark Walters
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t you cannot just buy any rental home and count on its appreciating value to provide a profit. Home prices are not going up.
Yet, you can still make money in Midwest real estate. The key is to always buy or option at a price at least 30% below market value. You have less room for error than those investing where home values are increasing by 1% to 3% per month.
In Southern California there are at least 5 real estate investing seminars being presented every week. Investors of all skill levels are swarming like locust over every square foot of ground. Competition is fierce. It's not quite like that in the Midwest.
Another key is to only invest in homes that people want to buy. A good target is what Technical Olympic has found to be its sweet spot... those homes near 3,000 sq ft. They will be easier to rent to the best class of tenants... and they will sell more quickly for the best profit. In your area the most desirable homes might have other characteristics, but you get the idea
The bottom line is that there are geographical sweet spots... and there are local sweet spots... even neighborhood sweet spots.
Stay in front of demand, buy carefully, use creative techniques like leases, options and "subject to", and you will find investing opportunity no matter where you live.
About the Author
Mark Walters is a real estate investor. You can learn about his successful tactics at: http://www.lease-option-sub2.com |
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