It always seems to happen. When I meet someone new or I am getting to know an acquaintance, the subject of what we do for a living usually comes up. When they hear I am a real estate agent, these days they act apologetic and say things like "I sorry, it must be tough for you now" or "what do you think the market is going to?" My answer to both questions is the same. "The market has changed but I am very excited about the opportunities available."
This seems to take people by surprise a little because I am very optimistic about the future of real estate. Part of the reason is because I not only sell real estate, I am an investor, too. I also work with other investors and this is a great time to invest in real estate.
A post I wrote about last week (READ IT HERE)talks about how rents are on the increase in Atlanta. Supply of affordable rental housing is low and people will always need a place to live. It is a great time to buy because prices are flat and there is an abundance of houses available. There are still great loan programs available for people with fair to good credit and even FHA programs for first time buyers are starting to get traction again. If fact, I closed an FHA sale on Thursday to a single mom who bought her first home, a 3 bedroom, 2 bath, updated ranch on almost an acre of land in Woodstock. She only neeeded to bring $6,000 to the closing table and was able to walking away with a payment of about $1,000 per month, which included taxes and insurance.
My attention last week was towards renters who may be ready to buy a house and to get them thinking about what it takes to be a home owner. Today, I want to explore the world of investing. When I tell people that I am also an investor, most say something like "I have always wanted to do that but...."
With all of the reality TV shows about "Flipping" properties, I always wonder why more people don't explore what it takes to be an investor. Realtor.com recently had an article about the best markets to be a "flipper" and you can read it here.
I think know why more people don't invest in real estate. The answer, it is harder than it looks! It takes a lot of homework, due diligence and sometimes nerves of steel. At some point, you have to quit analyzing deals and "fish or cut bait" as the saying goes.
If you are wanting to put your money somewhere and let it grow without actively being involved, real estate is probably not the best place for you. But if the idea of being able to borrow money to pay for your investment appeals to you (try going to the bank and asking for a loan to buy stocks or bonds) and you want to either invest for monthly cash flow or long term equity buildup, real estate may be a perfect vehicle for you to use to accomplish that goal.
It's a great time to be a buyer, either as an owner/occupant or investor. I am confident that I can find a property that will meet your needs either way. Call me today and let's spend a few minutes talking about real estate, it is one of my favorite things to do!
Michael Bradford
Southern Prime Realty
770-862-8002
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2 comments:
I loved your respond to the apologetic responses to being a Realtor. I get the question all the time and I agree that it is great for some and bad for others.
Thanks, Scott! It's really true. There's never a "bad market" if you know how to invest.
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