Make Profit In Any Real Estate Market
How often do you get good news? Real estate investors get good news everyday!Do you know no matter what state the real estate market is in, it’s good news for investors?That’s right, all these headlines can all be good news for you:Interest Rates Going Up? Good news!Interest Rates Coming Down? Good news!Housing Market Slows? Good news!Housing Market Heats Up? Good news!Local Economy Takes a Dive? Good news!What you need to know is what condition your real estate investment market is in, and what to do.I love to buy when interest rates are high! Why? Because prices go down and when you buy real estate, you can never go back and renegotiate a purchase price after the closing. But you can always look for a better interest rate on your loan.I don’t wish for anyone to suffer, but I look for foreclosure deals in bad economic times. I have helped many folks out of a mountain of debt by taking over payments on a home they would have otherwise lost to the bank or mortgage company.When the market booms, I look through my property portfolio for anything I want to sell. I sell property that is nearing the end of the tax depreciation table, or property that will net a desirable profit.You can also watch commercial building in your area as a predictor. Businesses spend millions of dollars studying local economies. Are the restaurant chains building or moving out of your investment area? Are the super stores building?Whats the average age of homeowners in your area? Older people will be selling homes and downsizing, and young people will be buying.So the trick is to keep your eye on the market pulse in your investment area and real estate trends. Talk to local agents. Take a banker to lunch. I have got more information from befriending someone in the title business than anywhere else. Though they don’t reveal confidential information, I always know what kind of deals are going down in my area.Are housing starts up? Has building slowed? Are employers hiring or laying off? What is the prime rate? All these are the real estate investor’s market questions.And since it’s all good news, you never have to worry!