Making Money From Real Estate in Depressed Counties
When the area is flat you will have to realize up front that purchasing a property for creative real estate investing will take some smarts. You will not want to be required to limit yourself to acquiring a property that you will have to live in. For example, that means you buy a house and dwell in it until you sell it. In such a market you will really need to get ahead on the competition. You won’t be able to market it for more than what the market brings. Thus you need to buy at a substantial discount to retain a fair profit if you are planning to do this the traditional way.
In this case wholesalers will start by researching listings in the local locations. Given the local real estate locations and the amount of motivated sellers, people who are real estate wholesaling are doing very good. Regardless of what you plan on doing, at the end of the day, you have to decide whether your profits against the amount of effort that was involved getting the property successfully closed.
As always, remember to educate yourself about sub2 financing houses and/or talk with an experienced professional before you consider any new real estate business and investment endeavors.