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A Review of "The Five Keys to Building Relationships Online"
If you are a practitioner of business networking, you know that you can only connect with so many people at each event. But, what if you had the opportunity to connect with 20 new potential clients every day? How about 50 or even 100? With the...
"Boost Your Sales by At Least 80% with a 'Call to Action'
One of the most important elements of your web site is the "call to action." Your site may have a compelling headline that grabs your visitors' attention. It may have well-written salescopy, great graphics, awesome navigation, fantastic ...
How to hire a Virtual Assistant…
So you have finally made the decision to go out and hire a VA. Now what do you do? Before hiring a VA, you should put down on pen and paper exactly what you expect to obtain from this partnership.
You should always check their references and...
How To Hit The Competition Without Losing The Customer
Get over it! If you run any type of business, you're going to have competitors. Even if your product or service is a unique one, soon you'll have copycat products start surfacing. Competition is therefore just a fact of business life and one of the...
Your Organization: What Role PR?
As a manager, does your current business, non-profit or association public relations effort concern itself primarily with radio and newspaper publicity? Or does it concentrate on a specialty area like financial communications or trade relations?...
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Investors - Look For The Real Estate Sweet Spots
A politician once proclaimed, "All politics is local!"
The same is true for real estate. If you live in Southern California home values are climbing towards the sky. The real estate market is hot!
At the very same time there are many areas in the Midwest where there has been no job growth, no increase in sales activity and no increase in home prices for over 5-years. If you are in one of those markets you find real estate investing is an entirely different ballgame.
Here's a good example of picking your sweet spot… something you, as an investor, should consider when planning your investing tactics.
Technical Olympic USA is home builder. The company very carefully selects the areas where they build homes. Right now they are in ten hot markets:
Florida Texas Tennessee Maryland Pennsylvania Arizona Virginia Colorado Nevada Delaware
This builder avoids the crazy areas like San Diego, Loa Angeles and Boston.
They look for areas where employment has grown steadily for the last 5 or 6 years and where second-time home buyers are moving to homes in the $200,000 to $400,000 range.
They've learned that these buyers are in there 30s and 40s, have kids and want 3 or 4 bedrooms, 2,800 to 3,000 sq ft of living space and a two-car garage.
Yes, it would be nice if we could all do some research and move to an area where investors are having the most success. Don't fret. Time and again the truly determined have proven that you can make money in any real
estate market… sweet or not.
If you are an investor living in the Midwest you cannot just buy any rental home and count on its appreciating value to provide a profit. Home prices are not going up.
Yet, you can still make money in Midwest real estate. The key is to always buy or option at a price at least 30% below market value. You have less room for error than those investing where home values are increasing by 1% to 3% per month.
In Southern California there are at least 5 real estate investing seminars being presented every week. Investors of all skill levels are swarming like locust over every square foot of ground. Competition is fierce. It's not quite like that in the Midwest.
Another key is to only invest in homes that people want to buy. A good target is what Technical Olympic has found to be its sweet spot... those homes near 3,000 sq ft. They will be easier to rent to the best class of tenants... and they will sell more quickly for the best profit. In your area the most desirable homes might have other characteristics, but you get the idea
The bottom line is that there are geographical sweet spots... and there are local sweet spots... even neighborhood sweet spots.
Stay in front of demand, buy carefully, use creative techniques like leases, options and "subject to", and you will find investing opportunity no matter where you live.
About the Author
Mark Walters is a real estate investor. You can learn about his successful tactics at: http://www.lease-option-sub2.com
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