Could buying US real estate make you money?
Nov - 08 |
Alex Rechtorik |
one comment. |
US real estate
Right now you could make money in the US Real Estate market and with out using hundreds and thousands of dollars. Let me give you an example. Here we have a house for sale for only $5000. Yes the place was in poor shape and the bank was desperate to get rid of it. It did need a work over. It would be safe to say an estimated that between $7000 and $10,000 was needed to renovate it and have it all looking good enough to sell or rent.
Now what was intresting is that the County Assessment on that property was $55,000. That’s not the appraised value, which is generally higher just an assessment. But even leaving it at $55,000. You could have bought the entire house and had it ready to sell for only $15,000. You could have made a $40,000 profit on it, with minimal fuss. Of course you had to be there to inspect and assess and buy the place. That’s why you need our team to inspect take photos and complete the appraisal for you.
Remember there are small extra costs and legal fees as well as the fact it would take time to fix the place up. But the question you should be asking yourself is, am I willing to put $15,000 and a little time into an investment, so that I can get all my money back and $30,000 to $40,000 more? Well, of course. Who wouldn’t? Where else are you going to get a deal like that?
It may even be better to hold onto the property and rent it out and have a positive geared property that will gain in capital and give you a return on your investment.
The housing market may be down today, but it’ll be up tomorrow. It’s the people investing today that will reap the rewards tomorrow. Investing in US Real Estate, investing in American real estate, is the best way to make money with a minimal risk.
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November 8th, 2009 at 8:33 pm
Nevertheless its also no secret that the wrong investment can end costing you a lot of money.