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The Market Is Ever Changing
Being in the real estate business, I see and hear things that give me a heads up on market trends and conditions prior to them actually taking affect on the consumer side. As a Broker and Investor I am helping many clients, as well as myself take advantage of some incredible opportunities while rates are still at an all time low. Local and National Banks are purging themselves of REO Properties that they have had to take back from the borrower. Fortunately for the investor looking to take advantage of these properties there are many favorable options that one would not even know existed.
Obviously each situation is different as is each bank and their position in the property.
Let's look at a few of these opportunities.
- Properties are being purchased at discounts of (up to) 50% from their selling prices in 2005.
- Properties that have been in individuals private portfolios for a long time are now coming on the market through lenders due to default.
- Interest Rates are still incredibly low and that directly affects your bottom line.
- Banks are willing to structure terms that are favorable to the well qualified purchaser buying their REO properties. In many cases Bulk purchases can be put together to average the closing costs and create a better long term rate of return.
- In short, there has never really been a better time to add to your existing portfolio or begin building one.
We need to look at Real Estate investing as a long term investment. The days of the "flip" are behind us and the future is focused on long term steady growth. Take it slow and only add properties that offer great potential. That's the benefit of today, we have many choices so we need to take our time and choose wisely.
As for your personal residence or first home, you are in a perfect position. There are homes that were built in the peak of the market that offer so many features and upgrades that you can now purchase for such a reduced price you'd be crazy not to think about it.
As for having to sell your home first? Why? The home your in now may very well be that perfect addition to your investment portfolio or the first one to start you off. Think about it this way, you already have a good loan in place, no closing costs, no inspections, you know the property inside and out. There are so many people looking for rental homes right now because of their situation that it behooves you to think about hanging on to that property and let someone else pay your mortgage.
If you would like to set a time to meet with me or simply receive an updated list of properties for sale just call or email me. I'd love to hear from you!
Written by : Jason Naumann Broker/Owner
www.naumanngroup.com
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