Profitable Investment Properties
November 1, 2009
At one time, investment properties were the secret to creating a sound retirement foundation and creating a steady stream of supplemental income. Many Americans paid off their mortgages and invested in rental complexes or began flipping houses as a way to bring in extra capital. For years, this worked beautifully… until the housing market crashed. Yet, do not be fooled by the doom and gloom, for an opportunist sees even greater possibilities. The large inventory awards potential investors deep discounts and, with many markets poised on rebounding, it’s never been a better time to invest in real estate, so long as you do it wisely.
One type of profitable investment property is the vacation home market. Many investors look into overseas property where conditions are favorable to American investors. According to the Association of Foreign Investors in Real Estate, a non-profit trade group, some of the best foreign places to invest are safe bets like London, England; Paris, France; Shanghai, China; Tokyo, Japan; Singapore; Munich, Germany; Sydney, Australia; and Hong Kong. The idea with buying investment property overseas is that you must look for location, location, location! Choosing a safe, industrialized city, which sees a good deal of tourism each year is a smart bet. Many investors also like coastal beach properties to rent out as well. According to the editors of Live and Invest Overseas Magazine, the top coastlines to check out are: Veraguas (Panama), the Samana Peninsula (Dominican Republic), the Rocha province (Uruguay), Salinas (Ecuador) and Boracay (Philippines).
Farm properties aren’t the first variety people think of when they imagine “investment properties,” but a number of analysts suggest that now may be the perfect time to invest in land. For one, the United Nations estimates that world population will grow from 6.6 billion to over 9 billion by 2050, which will require more agricultural land for growing food. Of course, this food won’t necessarily be grown state-side, so you’ll need to think bigger. Imagine what else land can be used for — growing plants to make ethanol and farming wind power or solar power, for instance. If this all sounds like conjecture to you, then consider that farmland has only exhibited negative growth three times over the last 100 years — briefly in the thirties, eighties and in 2008. Since farmland dipped last year, there has been a steady rebound in the first quarter of 2009.
There are many different places to find investment properties. You can browse the newspapers or Multiple Listing Service (MLS) websites in search of buildings for sale near you. You may also enlist the help of qualified mortgage professionals to guide you to the best deals. Sometimes they have access to unlisted properties or expired listings you wouldn’t otherwise be able to find. Property auctions and tours of government foreclosures can also be a way to find deeply discounted buildings that are up for sale. Before you take this big step, be sure you’ve taken classes, investigated building trusts and decided how you’ll manage the ownership of this new property.
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