I recently wrote a blog on the diferrences of the INCOME & SALES Approaches to Value in Commercial Real Estate. In the blog I speak about how these approaches were used in recent years and how it affected the market and offered some suggestions to help speed the curve of this "Distressed Asset Disater" we are in.
If you like please feel free to read my blog. It is posted here on trulia.
Best of Luck, if I can help answer any questions you may have please feel free to contact me.
I wish you every success!
Las Vegas and Phoenix are loaded with inventory. Many new homes in LV have not been visited after being on the market for 1-2 months. The areas always attract baby boomers.
Here in No. Cal, Sacramento, Stockton, and Tracy areas you can buy as many foreclosed properties as you wish. The Bank will look at your finance restricting your mortgage. The interest is non-owner occupied rate however. Near the Bay area I showed a 90K 3 BR home in Hollister, Ca. For Bay Area residents wanting to
manage their own properties I suggest local REOs as many have snatched up by investors quickly.
I hope this helps.
If you have any questions or would like a consultation about this feel free to contact me.
- Travel costs will be lower during the acquisition process.
- You should manage your first property yourself to learn how it is done. Later, when you start hiring property managers, you will know what they should be doing.
- When there is a problem with your rental you want to put your own eyes on it, not just call a plumber, carpenter, electrician, etc. Showing up to see the problem yourself will reduce the number of bogus problem calls you get from tenants (and you will be getting some).
Before you start looking at properties, work with a broker who specializes in investment properties and can help you create a draft business plan that includes a profile of the precise property that fits your needs. Later, you will use this plan as a template for most of your purchases regardless of which market you buy in.
All investors want to buy in the hot markets, regardless of where that market is, but for your first investment you should consider a good deal close to home as you grow your investment skills.
Best of luck, John
You can now buy property with 20% down that cash flows in the Bay Area.
Other areas of the country Dallas Houston Indiannapolis Oklahome City and may more can offer the same.
I think it all depends on what you are looking for.
I have real estate contacts all over the country if you would like some referrals.
Dallas is still a city where families can afford a home still have disposable income for personal lifestyle.
I would need to learn more about your business plan . I am not only a realtor, investor, loan officer.
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