I'm just so damn excited about investing this year.. The opportunities are all over the place, its just a matter of finding them! (mental note: formulate marketing strategy for 2005)
Sure there's talk about the real estate market cooling off some aeas, but you know what? Southern Arizona appears to be going strong... CNN Money projected an 8-9 % appreciation for this year which is an increase of last years.
You might be thinking, well, 8-9 percent is not that great, but you know what, our average price of home is approx. 175k, not like California thats 300-500k. I mean a starter home for a half of mil, give me a break!!
Arizona just may turn into a California.. If so, I want to own at least 10-15 properties.
And the great part of buying right is just that, you can be in a cool or hot market and still make money. Just like purchasing call and put options for stocks, you can make money year around.
There's absolutely no signs of the market slowing down in the prickly pear state. I'm tired of realtors telling me that they just sold their listing to Californians on the same day! I didn't realize that they were flying Californian investors for free to have a hay day on Arizona properties.. Its true..
I'll post my investing philosophy on why real estate IS the investment choice right now.. This thread is to just get me excited because I can't wait to talk to motivated sellers and help them out of their situation and make a little profit while I'm doing it.
The government wants people to own real estate. Do you know that you can sell your house and pay no taxes (if you live in it 2 0f the 5 years)? Holly cow!
I have a friend that sold his house (Cal.) which he owned for 2 years and is now temporarily retired traveling around the world for over a year now. You can do some stuff when you have 250k in your pocket!