Grab Quick Profits As Real Estate Prices Soar
Real estate values rise and fall in cycles. Currently
home prices are nearing a top in many areas.
Skyrocketing housing prices in California are prompting
nearly a quarter of the residents to seriously consider
moving to areas with more affordable housing.
California had the nation's third fastest rate of home
price appreciation last year, behind Nevada and Hawaii.
Prices climbed more than 18 percent compared to the previous year, 84%
in the past five years and a whopping 338 percent since
1980.
Less than one in five...
19%... of the state's
households can afford the median priced single-family
detached home, which was $465,540 in September.
Guess what?
Lots of these Californians are selling their homes
for big dollars and moving to other states where they
can buy a similar home for a fraction of the price.
Arizona and Nevada are prime target areas.
In those states the number of sales of homes to San
Francisco Bay Area residents has risen by as much as (gulp!)
6,000% percent. That huge demand forces prices up!
Here in the Phoenix area we are smack dab in the middle
of a home buying frenzy.
In the last three months we
have put four of our rental homes on the market.
Each of
them sold in ONE DAY! Offers above asking price are common.
Real estate agents are tearing their hair out because they
can't find homes for their buyers.
Our listings with a
flat rate discount broker prompted dozens of calls from desperate
Realtors.
The other side of the coin is that it's very hard to
find good renters.
Anyone with the slightest record of
financial responsibility is buying a home.
If you are a cycle investor you buy near the bottom and
sell near the top.
Is this the top in some areas?
I can't say, but when homes are
selling a few hours after being listed it would seem to
indicate that we can see the top from here.
If you are in a hot area it is the perfect
time to buy and flip.
Start walking neighborhoods in the early evening and
weekends. Knock on every door asking, "Are you the folks
with a home for sale?
Do you know of anyone who would be
interested in a fast sale?"You will find properties!
Some you may be able to sell within
5 or 6 days. Racking up a profit of five grand a week is not
impossible... if you are willing to put in the work.
With buy and flip you don't have to worry whether or not
a top is near.
Using options just about eliminates any
possible risk.
And a fast flip can be generated using the
"How to Make Money In Real Estate Without Owning Property" system.
There's money to be made... if you are nimble.
About The Author - Mark Walters is a real estate investor in Arizona.
He uses options in his investing program as explained here
http://digbig.com/4cefcMark Walters
