There has not been as good a time for investors to pick up property in RI since the Navy Base in Newport lost the fleet... interest rates are still low, and may be going lower as the credit fix gets underway and mortgage backed security prices rise due to government intervention... this will likely decrease rates down to the levels of a couple of years ago... at least for the Holiday season and into quarter 1 2009.

In addition to this, RI has seen radical decreases in housing prices over the last year or so... and we believe that this trend is slowing, and may stop also in quarter 1 2009... so combined low prices and low rates make purchasing investment property a good investment at this time.

A couple of months ago, I personally repurchased a 3 family property I sold two years before. At the time I sold it, it went for $375K. That was about the limit, if not a bit higher than, of what the rents could cover... I repurchased this property from another seller, not the guy we sold it to, for $185K... the rents being the same as they were back when we sold it, and with the same tenants.

Obviously, cash flow is now better than ever on this building.Better than when we first bought it 5 years ago.

Of course, not all housing prices have come down like this, as this was a short sale. But still, the market has a great many bargain properties, and if you can stand the delays and complexities with bank owned properties or short sales, now is a graet time to buy.

Newport Rhode Island is a resort community, where rentals offer the option to rent for high yeild in the Summer months, and for student rentals at Salve Regina University, Roger Williams University, URI, Providence College, Brown University, Rhode Island School of Design, Johnson & Wales University, and others.

If you would like to discuss these issues or options on properties in RI and Southeastern MA, please feel free to call Mandie Sullivan, our top buyer representative, to assist you in finding the best deals for you... Financing is also available: 401-293-0631