Property Advice

Investment property may be an oxymoron in this day and age. With real estate markets across the country going in the tank and showing 10, 15 and 20% declines month over last year’s same month, how can anyone speak about investment properties? It is in this marketplace, in this day and age, in this economy that profits are to be made and good properties to be found.

With foreclosures increasing their will be bargains to be found with the right research and due diligence. Look for areas where the foreclosure rates are either stabilizing or the percentages have declined. Look in those same areas for property values that have decreased the least percentage wise in the last year. Once you have found an area that has both factors in your favor, get a list of properties in foreclosure. Look for addresses in the “good” parts of that town and then pull comps in the last 3 months for properties of similar size.

Once you have a list together make sure you have a pre-approval letter from your lender before scheduling visits to those on your list. This will also give the realtor you are using some confidence that they are not wasting their time and may be able to give you some insight on properties that are not on the MLS just yet.

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