Indicators of a good area for creative RE
I have been studying all these great ways to invest in real estate. Naturally, they require MOTIVATED sellers. I live in San Diego, Ca. Now, I am sure there are people out there who will argue, but the fact of the matter is finding motivated sellers here is like the proverbial needle-and-the-haystack scenario. Fixer-uppers are going for full price!
What I am looking for from all you experienced creative investors is a description of the real estate market you work in. What makes an area good for investing? I have decided I will have to market for motivated seller some distance from my home. So I have a few towns to choose from and want to pick the one that looks best, based on information I get from experienced investors.
I would guess that one point, for example, might be days on market. I know I won’t find any concrete measuring tools, but my only real estate experience is in an area where you have to offer full price or lose the deal. So humor me here. Let me see the other side of the looking glass.
Thanks to all who respond.
Paula S.
Hi Pserber,
San Diego is an absolute GOLD MINE for motivated sellers. What is one of the biggest economic factors in San Diego???
You're right...the Military. When a member of the military receives transfer orders out of San Diego and they need out of their house quickly, they have no equity because they only arrived and purchased 2-3 years ago; how can they sell conventionally?
Just one sector of the population that will do whatever is necessary to keep their credit. You can step in and help get that house off their back, so they can report to their next duty station.
Check out the various base newspapers. Start with 32nd Street and you will see for yourself.
Best of luck
John (LV)
John,
Just wanted to thank you for your reply and to say, I think you're right! I keep getting reponses telling me I need to look for deals right here in my own back yard.
Paula S.
The answer has been right nin front me (Literally) the enitre time..infact I'm on the ship right now.... It's the obvious things that confuse me...
Thanks!!
JB
[addsig]