I had that question asked to me yesterday by an investor that I work with on a regular basis. I had to take a second and and think of what to say. I am not the type to spout off something so I can get people to buy a home from me and then they end up getting ripped off because of what I said.
After a short pause I explained to him that now is a great time to buy in Cabot Arkansas for an investor. Let me explain what this "investor" does and how I think for what he does it is the perfect market. My client buys homes at a discount price and then sells them 3-5 years down the road after renting them out. This is a great way to make money in this market.
Many people watch these shows on tv and think that they can buy a home and fix it up in a couple of months and sell it for thousands more than what they got it for. In this real estate market this is not the case. You have to allow for how long the home is going to stay on the market and the profits that it will eat away.
Back to what I was saying. Buying a home for 10-15% off of the market value is not that unusual in todays market. This market is not going anywhere it will be here for at least another year if not two or three. So what do you do in the mean time? You rent it out and have your tenent pay your mortgage. When you are ready to sell you will have to do some rehab work to recover from the renters damage, but then you should be able to make a nice profit.
If you are planning to invest like I just described, now is a great time I can help you with what ever you need. Contact me or visit my wesite that is all about cabot homes, just click on the link.
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