Growing opportunities for real estate investors April 15, 2007Posted by Jay Medina in News and Information.
As most people know, real estate is a cyclical industry. Last year’s downturn in sales activity has motivated some real estate investors to turn away from more property acquisitions. However, some astute analysts say this is a very opportune time to invest, or start a real estate investment program.
“Owning some income-producing real estate, in addition to having a solid portfolio of other investments, can be a very good thing,” said Dave Ramsey, author of the book, “The total Money Makeover.” For investors willing to invest for the long term, owning properties can be a path to financial freedom for many, he noted.
Single-family homes make very good first properties because they don’t entail the same hassles and headaches association with multi-unit apartment buildings. Homes can be easily turned into rentals and are also much more affordable than, say, multi-family units like duplexes and triplexes, according to Robert Sheehan, economist for the National Apartment Association.
Home sellers are now more realistic with pricing, so the current housing market offers a lot more choices for buyers who get more for their money. That translates to more and better opportunities for investors.