“Mark Maupin” asks, What Kind of Properties are Investors Looking for?
Real Estate Investors Meetings on Third Thursday of Every Month in Livonia, Michigan
Livonia, Mi-- There are several categories of real estate available for an investor. The easiest for a beginning investor to understand and participate in is the single-family home.Why?1. Home ownership in America is approaching 70%.2. They are the highest demand type of property.3. They sell quicker than other kinds of property.4. Prospective purchasers have the widest range of financing programs available to them, making single-family homes the easiest to purchase.And, if the property does not sell in a reasonable amount of time, it can always be rented.UGLY PROPERTIES: WHY SHOULD YOU BUY THE UGLY DUCKLING?The best property to buy is an ugly one. Look for the property that has never been "updated" or improved or one that has been improved in a very tacky way. Don’t be deterred by the pet urine, feces, or mice droppings. Where some see damage and odor, you should see dollars and opportunity.Ugly ducklings are the properties that have the least competition, houses that can be fixed up by remodeling, not by rebuilding.Many people are scared-off by things like leaking roofs and broken windows. Be happy to see those things. They’ll discourage most inexperienced investors from purchasing the property. In many areas, you will be competing for some deals with “do-it-yourself” homeowners.They may outbid the investor simply because they figure they can buy a home for $50,000.00 that will be worth $70,000.00 when they’re done fixing it up. It never occurs to them that they will spend $10,000.00 for materials and professional labor, one to two years working on it, and live in a construction zone the whole time. The oddest thing about it is that most people will sell the home when they're done, thinking they did great (although they really broke even) and start the process againFind, fix and sell works best in a 90-120 day time frame, with professional contractors quickly completing the repairs, renovations and decoratingFor more information on Mark Maupin and Investor Club meeting go to:http://www.markmaupin.us/ Information web site
Contact Information: National Real Estate Network, LLCMark MaupinTel: 248-939-6232Email: Maupin.Mark@gmail.com
Real Estate Investors Meetings on Third Thursday of Every Month in Livonia, Michigan
Livonia, Mi-- There are several categories of real estate available for an investor. The easiest for a beginning investor to understand and participate in is the single-family home.Why?1. Home ownership in America is approaching 70%.2. They are the highest demand type of property.3. They sell quicker than other kinds of property.4. Prospective purchasers have the widest range of financing programs available to them, making single-family homes the easiest to purchase.And, if the property does not sell in a reasonable amount of time, it can always be rented.UGLY PROPERTIES: WHY SHOULD YOU BUY THE UGLY DUCKLING?The best property to buy is an ugly one. Look for the property that has never been "updated" or improved or one that has been improved in a very tacky way. Don’t be deterred by the pet urine, feces, or mice droppings. Where some see damage and odor, you should see dollars and opportunity.Ugly ducklings are the properties that have the least competition, houses that can be fixed up by remodeling, not by rebuilding.Many people are scared-off by things like leaking roofs and broken windows. Be happy to see those things. They’ll discourage most inexperienced investors from purchasing the property. In many areas, you will be competing for some deals with “do-it-yourself” homeowners.They may outbid the investor simply because they figure they can buy a home for $50,000.00 that will be worth $70,000.00 when they’re done fixing it up. It never occurs to them that they will spend $10,000.00 for materials and professional labor, one to two years working on it, and live in a construction zone the whole time. The oddest thing about it is that most people will sell the home when they're done, thinking they did great (although they really broke even) and start the process againFind, fix and sell works best in a 90-120 day time frame, with professional contractors quickly completing the repairs, renovations and decoratingFor more information on Mark Maupin and Investor Club meeting go to:http://www.markmaupin.us/ Information web site
Contact Information: National Real Estate Network, LLCMark MaupinTel: 248-939-6232Email: Maupin.Mark@gmail.com
Labels: Mark Maupin, mark maupin jr, r.m. maupin, Ralph (mark) maupin, ralph m maupin, Ralph m maupin jr, Ralph marcus maupin, Ralph mark maupin, Ralph maupin, the real mark maupin
posted by Ralph Marcus (Mark) Maupin | 4:36 PM
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