Are you an aspiring investor who is interested in the housing market?
Maybe you’ve previously considered trying your luck at real estate, but never got the ball rolling or backed out for one reason or another.
Was the economy in a slump?
Did you seem to be in over your head?
Despite your reasons for getting out, I think we can both agree on what originally attracted you to getting in…
The right real estate investment can serve as automatic monthly revenue or even a complete replacement for your current source of income.
The trick is to be aware of your surroundings.
The value of any real estate investment is essentially determined by the conditions of its local area.
Lucky for you, I’ve listed a few ways to identify these conditions and weigh your investment.
The best part is, there’s no better time to get in.
We’re currently in a seller market.
If you want to get technical, 3 sales for every 5 listings qualifies as a seller market.
All this means is that the demand for homes currently outweighs the available supply, which encourages people to buy low and sell high.
To make matters ever more appealing, home values have risen 7.6% in the past year!
So why pass up this opportunity?
Take my advice and get the most from your real estate investment.
You’d think it would be the opposite, but one of the best ways to determine the potential for real estate in a specific area is to look for construction.
Jack hammers and broken concrete are beautiful to the eyes of an investor.
At least in the world of real estate…
Construction leads to development, development leads to more people and more people leads to more money in your pocket.
Like I said before, the key is to be aware of your surroundings.
Keep your eyes peeled for major retailers.
Companies, such as Home Depot and Costco, study the long-term growth of the economy and spend millions before they open.
Instead of wasting money and studying the economic growth yourself, simply follow their lead.
These companies have already done half the work for you!
As an investor, the presence of massive retailers is reassuring because it usually indicates valuable real estate.
These big brands attract the public and often promote job growth, which increases the demand for housing in the area.
Take advantage of this!
Emerging neighborhoods are another effective way to determine the value of an area.
It’s all about the timing though.
An early “in” before a neighborhood pops-up can prove to be a rewarding investment because up and coming areas correlate to an increase in rent.
Good school systems are another factor to take into consideration when looking to make a real estate investment.
Areas near schools tend to have better town occupancy rates.
Once again, more people leads to more money in your pocket.
Transportation services are also a valid indication for promising real estate.
People NEED to get from point A to point B.
So numerous transit options benefit property values.
Keep this in mind when you’re looking to invest in the real estate market.
A housing investment depends on the strength of the economy, job creation and the supply of available housing.
Identify the development of up and coming areas and use them to your advantage.
Don’t let real estate intimidate you.
Make it work for you instead!