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Last Updated: May 14th, 2012 - 22:24:01 |
When viewing a neighborhood for investment property listings, what US area would be the most profitable for me?
In any city, small or large, there are investment properties and neighborhoods that will produce profitable investment homes using the quick turnaround, rehab-and-sell technique. Because great variety in neighborhood characteristics are found in the US, it is sometimes difficult to describe the good neighborhoods versus the bad.
Families relocating account for two vital virtues in a neighborhood: 1. the real estate market (Price of investment properties and activity of market) and 2. the neighborhood’s resources (the Job Market; Schools, and Hospitals)
First, for sale leads, we look at the 2nd aspect. What designates a nice neighborhood, a nice town, a nice US State? We need a neighborhood center to have all of the town’s resources to meet our qualifications. The first standard is the town’s job market.
If say, our job is buying investment homes and then remodeling homes and reselling these fixer-uppers, then like many Americans who are self-employed, any major city will provide adequate work. For instance, Chicago neighborhoods have density of jobs.
New York investment real estate neighborhoods of course provide access to the world’s biggest job market. Is your career in demand? Ask any potential neighborhood’s Chamber of Commerce to give you criterion about the job markets there. In New York, the “Chamber’s” claimed goal is to attract more commercial mortgage leads for office space. {http://nyc.chamber.com/chamber_news.html)
What about a neighborhood’s educational systems? Well for mortgage leads, South Florida has the nice neighborhood schools of Florida International University, the National global cultural leader; Miami-Dade Community College, the biggest US community college; and the University of Miami, the “Athletic Powerhouse,” with over 20 national championships, as well as being Miami Dade’s biggest private employer.
Finally, when tracking leads, an outstanding public health system is crucial, especially to senior citizens. Miami’s Jackson Hospital has often led the US in providing safe surgeries. #1 real estate investment writer, Donald W. Gomez Jr. of Tropical Paradise Realty in Miami, Florida (786-202-0203) insists that you consider South Florida investment properties. Also the book, Where to Retire, 4th (Choose Retirement Series) located at (http://www.amazon.com) by John Howells, points to the South as your choice.
Now for mortgage loan leads that work, the primary neighborhood characteristic is the real estate market’s rising price rate and the frequency of sales in a neighborhood. The question we ask, “How do I know if a neighborhood meets the criterion?” The only way you can do this is by looking at its sales statistics for the previous couple of years. For this, we look at the quantity of closed-sale transactions, along with the number of pending sales together with the current mortgage leads for sale. We want most of the sales (over 75 percent) to go to owner-occupants, instead of investors buying all of the homes.
For home financing that is personal owner-occupants, the majority purchase their homes with conventional home loans, not with investment loans or land contracts mortgaged from the sellers. Your local real estate franchise can quickly and easily on the MLS web site, find in any neighborhood the comparative market analysis, called the CMA, .
So just do it. Get your profitable mortgage investment in the best neighborhood Today.
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