Updated: Jan 1
As the year is winding down, where do you stand with your real estate investments? Are you still looking to purchase but have not pulled the trigger yet? As the price of lumber has gone down a little, are you feverishly making repairs before the cold weather hits?
Is it possible that you have already called this year a wrap and you are putting all moves on hold until the new year? No matter what your answer is, the year is quickly coming to an end. It is not too soon to start wrapping things up and lining up your strategy for the coming year.
Although the interest rates have gone up I don't believe things are out of reach for the investor. Do not be discouraged. Home prices are going down and of course some of your purchase fees are still a tax write off for you. (kiss your accountant)
Over this past year many have relocated across the United States. Some are moving for job opportunities while others are moving due to the cost of living or crime. In any case, the hot spots for investment properties that are very affordable remain generally the same. Ohio, Tennessee, Alabama are just a few of them. Do your research and pick a Investor friendly state. You won't regret it.
If you are looking to invest, keep in mind that you can be an out of state investor. There are boots on the ground to assist you with your dream. Some ways to find connections would be to attend your local Real Estate investment groups. You can also find a real estate investment group on line for the state you want to invest in. You will find many of these on social media Facebook. Vast amounts of information is also available on social web site Bigger Pockets. https://www.biggerpockets.com
If you have a real estate agent, you can also ask them if they have any out of state connections. No matter what, if it's your dream, when there is a will, there is a way.
This year may be a wrap for you but you can get a head start on next year. Line up your lender, and other contacts now. When the new year arrives you will be ready to pull the trigger and seal the deal on your investment property. "Life is but a Dream"