Areas With The Greatest Home-Price Gains
Many real estate investors watch the housing market just like stock brokers watch the stock market. I found an interesting link on CNNMONEY that’s about the greatest home price gains over the past five years, and where 2004 will lead. Interesting information, but what I smiled at was how many of the trends in the statistics have been expressed and noted by investors on this web site, The Creative Investor, for everyone to learn from.
Another thing this website has taught me is REI diversification. Some investors study and find one area of investing they are comfortable with. And they focus on that area. But what happens when your market changes or becomes saturated for a time? As I study the different areas of investing and watch trends, I think I’ll be better equipped to take advantage of a deal that might be outside of my first love. I can court different methods a little along, learn about them, and can call on that information when a good opportunity shows up. Knowing my market and making predictions will help me map out a plan to ensure my real estate investing business continues to grow with the inevitable changes in real estate.
Hope you enjoy the article links below while they are available.
Terry McKee
http://money.cnn.com/2004/01/06/pf/yourhome/hotzipcodes/index.htm
Table: http://money.cnn.com/pf/features/lists/topzipcodes/index.html
You can't give your best in every aspect of real estate:
Having the one aria of concentration is always a good thing. Being familiar with other type of investments, (so to cope with the above described changes) equals having an excellent bag of tools.
Dear Terry,
You are so correct. One goes to school and first seeks a general education. Lots of survey courses which while not deep do cover the time span of our species. Then you start to dig deeper, perhaps you write a masters or whatever. You begin to specialize.
One day the bubble bursts and you must go back into your field of general information and seek another activity. Perhaps you this time just write the paper for yourself. After all it is you that is really the ultimate audience. So once more into the fray.
If you live as long as I have, you will find that it all comes into play. In the field of Real Estate I tried to do all kinds of different jobs, just to learn so that when I climbed on my mountain top and looked down I could relate to all that I could observe. I could begin to see the interplay among the various functions.
And it works, oh god how it works. I am for a while a Mortgage Broker and a man walks into the office and the solution is not to refinance but to restructure the property. So I do it. The next once walks in the door and he has three mortgages an ex wife that is bleeding him and he needs a solution. Nooo not that one, gimme back the gun. It is to divest into a corporate holding. Combine the mortgages, and to re think what the properties should be doing to achieve the maximum income. All different from my primary MOS (Main Occupational Specialty) I know used to be (Military Occupational Specialty) but I am using it now in civilized civilian life.
Damn finaly someone who thinks and sees the big picture of what this TCI is all about. John Locke will love you, drop him a line.
Effervescent Lucius
I checked the url and I live in one of the fastest growth towns in USA. on Long Island NY. 11. 8 projected for 2004 and 118 percent in past 5 years! I am brand new to re. investing, but ready to act. There are currently 3 forclosures within 5 blocks of me. Auctions coming up soon. i am going to attend, but don't know how to get money for financing. I also don't know how competitve the bidding is. 2 of the properties owe 60 to 70 K plus expenses and back payments. I've never been to a re auction so I dont know what price they will fetch. But I do know that these properties could easily resell for 160 - 180 K
Also, the minimum rent would be no less than 1500. Any advice? I could probably use cash advance on credit card to gather 25 - 40 K. Maybe some out of town investors want to partner up. I am right here in the middle of this. I can find tons of properties, I can fix em. I can rent and resell.
Please advise!
gyoung ,
To effectively use the wealth of information available on this site you have to read a lot of posts prior to start asking questions that lack in focus and clear scope. By utilizing this method you'll learn faster and the information that you are going to get from the board will be more concentrated on what you really need. As far as your questions are concerned, maybe you should join the local REI club where you may get some additional information specific for this part of the state and you also meet someone willing to put the money while you do the runs.
Good luck!
thanks! Forgive my over eagerness to post. I'm wet behind the ears. I'll take your advice.
Gerry