From the Elite to the Suburbs: When you think of flipping a property you usually think of a run down building or dilapidated house. But there are investors who fix and flip all ranges of properties. The investor just carves out his or her niche, whether that’s property on the low end of the spectrum or million dollar homes in affluent areas. A new kitchen still adds value to a home, whether the home is a million dollars or $200,000.
What Works: If an investing strategy is working for you—continue with that strategy, why mess with something that’s working. Usually this goes back to your own talents and skills, if you’re good a remodeling property, living in it for two years and then selling it, then stick with that.
Buy Into Quality: Buy a property that’s inexpensive in an expensive neighborhood and don’t buy or build an expensive property in a inexpensive neighborhood. A lower priced home in a wealthy neighborhood will pull the value of the homes around it—it has the same style, security, proximity to schools, and overall appeal of the homes around it, even though it might be a bit smaller, let’s say. This smaller property starts to sparkle like a diamond when set next to the quality homes around it.
What Do Stats Say – Layoffs: The timing of buying property in an area is crucial. Once you own property you love to see announcements about companies expanding and opening up new factories or offices, you hate to see the opposite. As you're doing research, if you see an area is going through a down turn, that could be a could opportunity to buy, as long as the downturn is a short one of course. Meaning, you see something that will turn it around. Stats and news are all in the eye of the beholder - and the strategies that want to put into play.
Foreign Investors: With the weak dollar right now, as of March 2008, more foreign investors are looking at buy property in the United States. If you're trying to sell property, why not try to market to people in Europe looking to live in the United States.
Will Pay Cash for Homes: Advertise what you’re looking for. Instead of searching through ads for property, whether that's online or within real estate magazines, post an ad yourself that states what you’re looking for in a property. I’m sure you’ve seen the ads that say, ‘Will buy homes with cash’, where the investors is trying to find homes that are on the verge of foreclosure.