One of the most common questions those new to real estate investing have is what type of properties are best.
Of course the answer to this question relies to some extent on your individual real estate investing strategy. If you asked legendary investor Warren buffet he would probably simply tell you to look for good properties in good areas that are undervalued. There is no specific area of the country that will always reign supreme for real estate investing and you can be confident that there are bound to be numerous real estate investing deals available in your local area at any given time.
However, to be more specific the best types of properties that you can look for as you start out in real estate investing are simply those which are undervalued in a neighborhood and can be quickly and easily spruced up and turned around and re-sold for a profit. This doesn’t really mean properties with major septic tank or foundation issues or those with roofs falling in. Though properties which are purely suffering from minor cosmetic challenges are often a great choice. This includes homes which just need a little extra curb appeal, lawn work, pool cleaning or a good coat of paint and perhaps some simple aesthetic upgrades inside.
Though perhaps what is most important to consider when looking for properties for real estate investing is seeking out homes which have the biggest potential pool of buyers. The more buyers for your homes, the faster they will sell and the more competition for them, meaning a higher sales price and profits. In considering which properties are easiest to flip and most desirable keep the number of bedrooms in mind and whether their may be any difficult condo or Home Owners Associations involved in the process.