“The investment opportunities we see today are just the beginning. The tsunami has just started to hit the beach,” said Michael Covarrubias, president and CEO of TMG Partners Real Estate. He told a group of 140 investors in San Francisco: “The key to the real estate business is, and always will be, the right time.” The top-earning properties right now are foreclosed homes and apartment complexes. The retail / commercial market scares many real estate professionals, but is expected to recover eventually as consumer confidence rises and people start spending again. In general, there are several opportunities for people interested in buying investment property.
Ranches for sale are popular income properties because many American vacationers want to “just get away from it all.” Some people want a truly relaxing, “all-American” vacation, not far from home, but far beyond stress and job responsibilities. A rural western experience is similar to a country house in that there are no neighbors, no tanned college students partying, and no loud, congested traffic. When looking for ranch buildings for sale, try to find a place that has luxurious facilities within the building, but still offers some of that good country tradition. You can have cattle, sheep, horses, or border collies on the property. You can have a spa, golf course, tennis court or gym near or on the property as well. Scenic nature and good hiking trails should also be taken into account when selecting the correct location. Some of the best places for your western real estate investment property include Buffalo, Wyoming, Clark, Colorado, and Bigfork, Montana.
“You’re basically taking advantage of someone else’s misfortune. That’s the unfortunate situation, but it also presents an opportunity for a lot of people,” says Andrew Couture of http://www.neighbourhoodscout.com of foreclosed properties. banks. Most foreclosures sell for 5% below market value, but buyers can sometimes find bargains up to 30-40% off. However, one should not be seduced solely by the price. Couture adds: “If you can do it in an area where schools are good, employment is good, crime is low, there is access to services and opportunities, and there is a lot to do, then that will be a more desirable location.” Some of the best places to buy foreclosure income properties, according to Yahoo Real Estate, are Binghamton, NY; Augusta / Richmond, VA; Syracuse, New York; Yakima, WA; Hickory / Lenoir / Morgantown, North Carolina; Kingsport / Bristol, TN-VA; Columbia, SC; Charlotte / Gastonia, North Carolina; Provo / Orem, UT; and Beaumont / Port Arthur, TX.
For the first-time investor, the best income properties are typically single-family residences that are rented to tenants. Unlike the exchange house scheme, this type of investment is intended to generate a steady stream of income, rather than a quick lump sum. In the long run, you can earn more money, although there will also be more expenses in terms of repairs and maintenance of the land. Look for recognized locations that are close to bus stops, grocery stores, entertainment venues, jobs, schools, and other amenities. Before making a purchase, view the property first, rather than investing in a distant foreign property that could be more of a gamble.