What REI field do I want to do??
| | Wednesday, March 31, 2004 @ 12:00 AM EST
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Contributed by: eric szczepkowski
eric szczepkowski Properties
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Ever find yourself trying to decide which type of real estate investing you want to jump into? Does wholesaling sound good to you, or are you the type who wants to be a landlord? Well, this article may help you.
The first thing to take into consideration, is what is your market like? Is it high priced and rising? is the market stable? How many foreclosures are there on a weekly basis.
For the high priced market and rising, you may want to consider multifamiles or rehabbing. For example, Massachusetts is extremely difficult with the pre foreclosures, and the ones that are up for auction, 98% of the time the auction does
not go through. Why is this? Because the supply and demand of the area is so emmense, a house in foreclosure can easily be sold in the amount of time needed on MLS.
Multifamiles are a good way to go in this area, only because, people want to live in the area, and many are willing to rent. This is a good opportunity for you to buy buy buy with the multi's, and take your cash flow.
Rehabbing is also a good idea in a market such as this. Find a "ugly" home, fix it up, and sell it for a profit. I see many rehabbers in Massachusetts, only because its one of the best fields in Massachusetts today as far as REI is concerned.
So before you anwser that question of, "what should I do?" Take a minute to evaluate your market, and its conditions, and if your not sure, just ask someone on here what they thing you should do, once all is said and done.
Happy Investing
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