Property Investment Opportunity
Real estate will always be a good market to get into because if does go into a slump, it will always rebound. The trick to finding a good property investment opportunity though is making an educated guess as to where a rebound is most likely to occur. You will also want to know what type of investment is as much of a sure thing as possible.
A good place to start when looking for some real estate to invest in would be rentals. Whether they be large complexes, duplexes, or even houses. Common sense dictates that with the sharp rise of home foreclosures there will be a sharp rise in the number of people needing another place to live. If a person or a family cannot own the place where they live, then they are going to have to rent.
Many investors already know this so the competition to obtain renters is going to be fierce. Most of the time you see property investment companies who own large complexes advertise move in specials. That's all and fine but after the first few months the rent is going to be comparable to anywhere else you go. This may be a good way to get renters into your units, but it certainly is not a good way to keep them.
The trick here is to think long-term. If you lower the overall rent of your units to where it is less than your competitions, you are going to get more renters and you are going to get them quicker. And if you have a large enough "fleet" of rental units, you can realistically afford to stipulate in the rental contract that the amount of the rent will not change for a specified amount of time. You do not necessarily have to lower your standards of whom you accept, you are simply making it financially easier for a larger group of people to be able to rent your units.
The benefits of this practice are two-fold. Not only is it good business because you are getting a larger amount of renters quicker who are going to want to stay long-term, but it is also the right thing to do. With the economy and the job market being what it is today, the old business model for rental units really needs to change. Out are the days of a quick buck and in are the days of a long term investment.