REVELATION OF THE SECRET TO REAL ESTATE RICHES
By: Mathews Junior
Tags: Deal, Property, Location, Real Estate

REVELATION OF THE SECRET TO REAL ESTATE RICHES

The only three things that matter in Real Estate are location, location, and location.A ten-bedroom, eight-bathroom home with cathedral ceilings and a swimming pool located next to a rubbish dump is practically useless. A little one-bedroom, one-bath shanty in the heart of downtown Dallas, on the other hand, would be worth a small fortune. As you can see, while looking for a piece of Real Estate to invest in, the location is really important. What is it about a piece of Real Estate’s location that makes it valuable? The solution is straightforward. The value is solely determined by the desirability factor. Desirability is a fickle concept that is difficult to pin down.

A property that is completely unappealing to one person may be a dream come true for another. This problem affects Real Estate investors, home buyers, and tenants alike. It holds true across the board in the Real Estate market. The most important consideration for any Real Estate investor is what technique they will use to make a profit on a property. Buying is only half of the question; whether the property’s location is favorable or bad is determined by the profit plan. For instance, if a property is being purchased by an investor,the ideal locations are those near entertainment hubs or emerging neighborhoods, as the likelihood of the property increasing in value merely by waiting is a strong bet. On the other hand, if an investor plans to buy a home with the purpose of renting it out and earning a monthly income, he may be better off looking at urban properties. Although urban properties are not classified as “prime” Real Estate, they are “prime” rental properties. There are also real estate investors that are skilled at working with their hands. They can repair and renovate derelict buildings themselves, resell them for a lot of more than they paid for them, and profit handsomely. When determining a property to invest in, Real Estate Investors consider a number of factors. One factor is what I refer to as the’snob’ factor. People will pay far more for a tiny home in the “correct” neighborhood than they will for a larger property in a less desirable community, which is weird. However, one person’s notion of a “good” neighborhood will differ significantly from another’s. Then there’s the issue of visibility.

Property values grow regardless of location if a neighborhood or an area has become famous or even infamous. Another aspect to consider when determining the desirability of a property’s location is convenience. People choose to live near their places of employment and their children’s schools. Rising gas prices may have a positive impact on Real Estate values in major cities. For Real Estate investors, house buyers, and tenants, the desirability of any piece of Real Estate’s location can be decided by a variety of criteria. If the area meets the investor’s requirements, he will invest. A property buyer will buy if the area is favorable for his needs. A tenant will rent if the area is favorable for his needs. So, basically, all of the different elements that go into assessing whether a location is good or terrible can be rolled into one simple work: attractiveness. Individuals make up our country. We all have various perspectives on things. Take a look around. Everywhere you look, there are people. They are found in large cities, small towns, and both urban and rural locations. Who is to say what constitutes an “excellent” location?. ‘Whatever floats your boat is good,’ as the current phrase goes.