Real Estate Boom or Bust?
Everyone is chatting about the real estate market and the boom it has been experiencing in the past several years. House prices are sky rocketing with little inventory and plenty of buyers looking for a new investment. For the most part investors are looking into different aspects of the real estate market. At the moment the hottest market is the condo market, specifically in the pre construction sector. Savvy investors have been purchasing condo units before the project even starts. Usually investors register for a unit and if they are lucky enough they will have chance to purchase a property before the general public. This has proven to be very beneficial because the unit price is the lowest, as sales begin the price per square foot increases as the project gets closer to being sold out.
This isn’t as easy as it sounds, most developers have a system for their sales team. Friends and family get first choice followed by a few select VIP Brokers, then secondary Brokers, followed by all real estate agents. Finally the general public have a chance, but usually by this time the project has sold out. You really have to know someone who has early access. I have worked in the real estate market for the past ten years and I have made friends and professional connections to many of these developers. I pride myself to only work with the best condo projects in the market. If you are looking for more information concerning purchasing pre construction condos, please read my article on real estate investing for detailed information.
Quick little update on a project that I am working on. Check it out!
Purchasing a pre construction unit has many benefits which I will explain briefly so you can understand the process a little better. First of all you can literally purchase a unit with as little as 5% down, meanwhile you have the luxury seeing your investment grow at the full purchase tag. For example if you purchase a unit worth $500,000 with a 5% down payment which equals $25,000. For just an investment of $25,000 you will have the rights to a $500,000 unit. By the time the project is finished and this can range from one to four years your condo can be worth $600,000. Now tell me in which market can you quadruple your initial investment in as little as for years, that is a return of 400%. To me that is a no brainer, with this type of strategy you will be building real estate wealth in several years and have millions of dollars in equity in a short period of time.
Please send me an e-mail if you have any further questions or if you a looking to purchase any type of real estate property. As always have a great day and hope to hear from you soon.