is it a good time to start property developing not in rush for quick sales might even rent them?
Sunday, May 17th, 2009 at
5:46 pm
got a chunk of money dont need to borrow.people are gonna start going bust in the uk with the credit problems so there must be a few reposessions coming up
Quick Property Sale
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Tagged with: Good Time • Money • Quick Sales • Reposessions
Filed under: rent property
Anytime is a good time, Bricks & Motar, save as houses, good luck
Probably, if you have the capital. Buy when prices are low, sell when they are high – a simple rule, but very few follow it.
But don’t borrow too much, interest rates are unpredictable and the credit crunch means your lender could ask for repayment unexpectedly.
I would wait a while before buying property, as the interest rates are fluctuating so much. If it is right that so many houses are going to be re-possessed, when this happens is a good time to buy, go on line and find property auctioneers, and get their brochures.
yes the market is hammered right now meaning its a great time to get good deals. i had a lot of capital too and have been scarfing up houses on the cheap to rent them out for income.
I have been writing low ball offers on foreclosures. I am getting them at less then 25% on the dollar.
I would seek out foreclosures and look for the best deals money can buy. Make sure you understand the value and don’t buy at over 65% of appraised value.
Buyers are in the drivers seat now that the credit crunch is here so don’t be afraid to tell the seller I will only pay this much. Good luck and having been a landlord for 17 years
I would not trade it for any other career. I roll out of bed at 10 am every morning and have not worked on the weekend for 10 years.
During the summer I always drink coffee and read the newspaper while my neighbor the doctor is long gone to work. I see him come home at noon for lunch I’m still on the deck reading the paper by this time I’m making a few calls to my manager but I am still at home hanging out with my dog.
Real estate investing has been good to me. The key buy only value and make sure you have plenty of capital to fix and repair. Manage the rentals tight keep units occupied and get a manager- construction guy to make your service calls.
It only takes a couple hundred thousand the work for you at 35 to 50% returns to make a decent living.
The hud has a nice site for foreclosures
hope it helps