TAXLOOT book. Nevertheless, it was a great opportunity to sit in on this lecture...which paved the way for good Q&A at the end.
I didn't get the opportunity to get my first property as of yet - I lost out on my first bid. But I hope to make another bid on this nice little 3/2 home located near downtown ATL. I just received an email from my broker about 30mins ago. So it's on to the next one!
We'll see how this one plays out - lots of opportunities in the real estate market. On another note, the market seems to be stabilizing on one hand, however, there are also a lot of contingencies that can tip the scale over into the abyss. The potential of Bush's Tax cuts not being extended, the debt ceiling, Universal Healthcare, etc. are all domestic issues that can send the economy back into a recession. Not to mention all of the Euro-zone mess.
One must remember that during a crisis, there is always room for opportunity. And opportunity only knocks once. What opportunities do you see in your part of the world?
June 27, 2012
June 22, 2012
Perfect time for investing in this asset class. It's not so easy to find profits in the stock market right now - so most investors are rushing to hard assets like real estate and commodities.
I think investing in real estate now could possibly be a win-win situation, because interest rates WILL gradually go up. And therefore if I can lock in an interest rate at 4% today...I'd win and the banks lose. Monthly rental prices are near $750 - $950 in the areas I'm considering. My mortgage is estimated to be at $270/month after principal, interest, taxes, etc. This equates to my monthly profit (in this scenario) to be between $470 - $670. Not too shabby.
I imagine the rental market is going to be in strong demand since there has been a significant transfer of wealth given this past housing market downturn. A lot of people have lost their homes, damaged their credit, filed for bankruptcy, etc. Not too many people have questioned why the credit bureaus have raised the bar on FICO scores, however, more people now have bad scores due to the downturn in the economy and the result of this is that people cannot get decent mortgages to purchase a home. So for now, they rent.
So therefore, I think that due to this unfortunate event - there might be a silver lining for those of you who have the gusto to take a risk and make a profit.