While flipping properties for profit is pretty much over, a few hardy investors are persevering by working as de facto contractors. They're snapping up cheap homes in disrepair, hoping to clear a high enough price after renovating to make back their costs plus a gain.
But experienced rehabbers say it's no road to easy profits (and you'd better be handy). "These are not home-run deals, but they pay the bills," says David Short, an agent and investor in Indianapolis.
Virtually unheard of low prices are showing up everywhere, and especially the Industrial Midwest. From Detroit to Cleveland, buyers are pursuing deals that could produce rental income.
The prospects in warm-weather former boomtowns are more speculative. Except at the low end, prices are still high enough that you're betting on a future boost in value, in addition to the rent, to earn a decent return soon. Even so, there's plenty of interest. "At least 25 percent of our buyers are investors," says Las Vegas real estate agent Paul Bell.
Source: Money
+1-832-418-1055
Askins Online Real Estate Blog
Askins Online Real Estate - From Tweets to Trends
Subscribe to this blog
You will be alerted when there is new content on the blog via email
Name:
Email:
|
EMAIL ME
2425 West Loop South Ste. 501, Houston, TX 77027
Phone: (713) 942-9200 Fax: (713) 864-4506
ARCHIVE
TOOLS
View subdivision price trends for the past 13 years, and create comparative subdivision analysis reports online.
Search for information on Houston and Texas schools based on the county, district, campus and/or zip code.
Golf Course Finder allows you to search for Houston golf courses and to view properties on or near a golf course.
Search for Houston area highrises and see their comprehensive list of features and amenities.
Includes residential home sales statistics for residential properties and new homes listed by REALTORS®
