Monday, November 15, 2010

Real Estate: Still the Best Investment

With all the bad and negative information in the media these days, many people are leery about pursuing real estate as an investment options.  But I'm here to tell you that real estate is still the best investment.  I tend to be very simple in my thinking.  And of all the investments out there, 401K's, stocks, bonds, t-bills, and so on real estate is the only one with "real" in the name.  And that speaks volumes.

Prices are the lowest they have been in years.  Just to give you an example, I closed a duplex with a remaining tenant in one side for $7,000.  Yes you read that right.  I closed a 3 bedroom, 2 bath home built in 2005 for $15,000.  I have a 3BR/ 2BA home on the market for $15,700.  And I have a 2BR/2BA home on an acre of land under contract for $7,500.  When you can buy real estate for less than a used car, you should really consider making the step.  As of today, there are 1,296 single family, condo, town home and multi-family properties available for under $25,000.

As an added bonus to investors, you have for the first time in my lifetime the best tenant pool.  Why?  It's simple, with all the foreclosures and short sales occurring, these former home owners need a place to live while they repair their credit.  So what makes them part of the best tenant pool is that they know how to care for a home.  They have been used to not calling someone else for repair and maintenance issues.  They have the home owner mentality not that of a career tenant. 

So don't you want to get a great investment while you can???

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