The first question people ask me when I tell them I am a real estate agent is: "How's the market?" I always say "Great!” They usually give me a puzzled look due to the recent talk on every news channel in the country. Now let me explain why I think it's GREAT. With recent foreclosure rates and the oversupply of inventory on the market, appreciation has skidded to a halt and in some cases prices have started to fall. This may seem like a bad thing, but think of it from an investors stand point. The bottom line is: NOW IS A GREAT TIME TO INVEST IN REAL ESTATE!
Mortgage companies are dumping homes they have gotten back due to foreclosure for unheard of prices. Typically these homes are in disrepair and could use a few finishing touches. If you are willing to take the risk of investing in real estate and put a little elbow grease into them you can turn a profit. Many of you have watched the “Flip this or that House” on TV and thought many times “I could do that!” well you can! But as you’ve also seen, if a job is not done right you can also loose. The biggest tip I can give a first time investor is to get educated and do your research.
I am going to be starting an “Investor’s Club” meeting to help people who want to get into investment real estate. The first class will be next Friday the 25th from 12-1pm at the Bemidji Armory in the back classroom. The cost to join is only $5 per time and that includes your lunch! It will be a round table discussion where people can ask questions and bounce ideas off of each other. Email me if you want to attend at mandy@firstrealtybemidji.com
