The Time is NOW!

The Time is NOW- By Ann Bienstock


I am getting many phone calls each day from consumers looking for a “good deal”. If you are one of those investors who believe in the “buy low & sell high” philosophy, then I think now is a good time to consider buying that property you’ve been eyeing. Surf the web and check out the abundance of foreclosures and short sales (homes which lenders have not yet seized). Housing prices have pretty much bottomed out and interest rates are historically low. This combination set a buyer in the driver’s seat.

If you plan to buy an investment property and hold on to it for many years, you can be pretty confident you will see positive results. According to the National Council of Real Estate Investment, the average annual return for apartment investments is about 12%, compared to 9.5% for stocks, 5.1% for bonds and currently, you can yield a whopping 1.75% from bank CD’s!

Before you take the plunge, try to remember a few pointers:

• Educate yourself – if you buy the property for a “quick flip”, make sure the area isn’t flooded with similar homes. Be sure you can get a buyer. For a long term investment, make sure the rent will cover the mortgage payment, and other expenses.
• Don’t buy the property for more than its worth in the current market.
• Know your finances – banks are tough these days. Tighten your credit and have all your finances are in place so as not to delay your purchase. Good deals go quickly.
• Buyer Beware – most investment properties are sold “as is”. Do your due diligence and thoroughly inspect the property so you can calculate for improvements.


Now, go start searching for those hot deals and watch your money grow!!