Distressed Property: Is it a
Positive Investment?
There are a lot of investments that are made in real estate, nearly
all which are expected to allow the price of the property to go up.
However, sometimes the value of a property starts down. If you have
run into a property that is like this, you will want to decide if it
is worth investing in. Distressed property is one of the questions
that several ask when investing into real estate.
If a property is distressed, it means that it has not had the
carefulness needed by the previous owners. Most likely, the home is
part of a foreclosure, abandoned home, or other issue and may have not
been lived in for a specified amount of time. Any distressed property
will need a lot of attention given to it if you decide to invest in
the property.
Before examining this type of property, you will want to make certain
that it will be worth your investment. While a distressed property
will usually go down thousands of dollars because of the quality, it
may not be cheaper. It will be expected that you put a specific amount
of work and money into the home in order to repair it and get it back
up to being part of the market.
If you are able to get an extra loan, have more money, and want to a
home, then a distressed property is right for you. However, if you
don't want to put in the extra effort, then finding this type of
property may loose you money and comfort in your own home. You will
also need to decide whether you will be able to profit off of the
investment in the long run according to the neighborhood, market, and
your intentions for using the property.
While a distressed property can be favorable, it will need to fit your
goals and your lifestyle in order to be a successful investment. As
long as you have assessed your financial stability and goals and are
able to put in the extra money, time and work, you can take a
distressed property and turn it into what you want. This will give the
property the dream of moving from rags to riches.
ABOUT THE AUTHOR
Bob Schwartz, is a Certified Residential
Specialist, CA licensed real estate broker with
www.Brokerforyou.com. Bob
has over 27 years of residential real estate experience, authored a
number of published articles and served as an expert witness for
San Diego lawyers. You can contact
Bob via e-mail at bob@brokerforyou.com or visit his highly popular
San Diego real estate website at:
http://www.brokerforyou.com
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