A New York real estateinvestment is indeed a tempting venture. The Big Apple is ripewith real estate opportunities just lying around. There are actually a lot ofreasons why you need to invest in New York real estate today. Here are some ofthe reasons why wise investors are harvesting the fruits of their tolltoday.
Investment properties are easier to find. In New York City or anywhere inthe country, you will surely find a house that you can use as an investment.That?s because there were hundreds of thousands of properties that wereforeclosed during the recession. Because of the economic hardship as well, alot of people are opting to sell their properties in place of a smaller house.Some are opting to just rent an apartment for the mean time because mortgage issimply too heavy to bear. The availability of these houses makes real estate investing inNew York and other areas easier.
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Another good thing about making a New York real estate investment is theprice of cheap properties. Foreclosures and REOs, which are types of propertiesowned lenders, are very cheap in today?s market. They are swarming bankinventories so lenders have no choice but to sell them at bargain prices. Realestate investing is easier when the properties are cheap because that givesinvestors the allowance they need to profit from the deal.
Another reason is because today, you have an opportunity to make money inreal estate fast. Real estate is an industry considered a long-term businessbut there are actually ways to shorten the turnaround time. You can make aNew York real estate investment by wholesaling and rehabbing,the two forms of flipping houses. The first method is assigning contracts tobuy properties for a fee. The second is fixing old properties so they can besold high again.
These two methods are gaining popularity in New York City and across thecountry because of the speed of transactions. A property may be wholesaled indays while a house can be rehabbed in weeks. At the end of those transactions,investors are able to get their pay checks. For wholesalers, it is usually,000. For rehabbers, it is often ,000.
These methods are indeed very profitable. It is important though that youunderstand well how they work. And if you need the knowledge for thesebusinesses, simply go to REIWired.com right now andstart watching very informative videos.
REI Wired is the ultimate real estate investor network on the planet. Thesole purpose of this site is to arm you with the cutting-edge real estateinvesting tactics being used by the hottest investors in the industry?so youcan dominate your competition and close more deals? FAST.
Article from articlesbase.com
Source: http://www.nyz.com/2011/10/09/biting-a-new-york-real-estate-investment/
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