Denny Oh impressed me with this analysis of the downtown San Diego condo market. Jeff Brown continually astounds me with his ability to identify growth investments in residential real estate, across the country. Greg Swann is picking off pricing disparities in Phoenix.
There is an old question I used to get when I traded securities. "Is this the year of the market timer or stock picker ?" That question was posed to me every year by various clients. This year, the question is no different except it's geared towards residential real estate.
You always make money when you BUY the investment, not when you sell it.
I'm starting a new category on America's Mortgage Broker; Show Me A Good Deal. This category is reserved for real estate agents who want to highlight what, they believe, will be a great investment. Here are the rules:
1- Explain your premise (eg- Boise is San Diego 25 years ago).
2- Address the use of leverage and how it enhances the "deal" (I can help you with that)
3- Give a compelling reason for THIS property (eg- Buy it for $200K below market, spend $50K t0 improve it to market condition)
4- Address the holding time period.
5- Identify the potential sales price and explain why
6- Compute the IRR (I can help you here).
Your prize? When the article is posted, you may duplicate it on your home weblog. I'll also feature it in my newsletter to past clients (over 700 in the database). I don't have a ribbon to award you nor do I have a button for your weblog but you will display your prowess to some 250-300 readers daily.
First Up? Renee Burrows of Las Vegas with a 4-plex in the UNLV area. Check back tomorrow.
