Real Estate (investment property specialist) Investing
No commentsBy MikeB
There are many methods for building fortunes in the world today. One of the most accessible even for the common entrepreneur however is real estate investing. In fact, you will find many rags to riches stories are built by investing in the real estate marketing in one form or another if not many methods for investing in this lucrative but risky field.
Real estate is a great strategy for the investor who is willing to make the time to learn about the options, risks, and potential rewards for this type of investment process. Some of the more common real estate investments are the following:
1) Rental property. Property ordinarily gains value over time unlike many other investments that may rise and fall quickly and without warning. The problem is that far too few people can actually afford to hold and maintain multiple properties over an extended and indefinite period of time while waiting for the value to rise. Many property investors manage to overcome this by renting the properties to tenants during the time when the property values are rising. This allows the tenants to essentially cover the note on the property and makes the venture a little less risky though there are risks involved when dealing with tenants (such as property damage, failure to pay the rent, and possible legal woes-the good tenants generally outweigh the bad).
2) Pre-construction investment. This is a highly speculative and very risky sort of property investment that has booms and busts. Many investors recently discovered exactly how risky this endeavor actually is when the property ‘bubble’ went bust so to speak. The risks involved in this type of investment should not cover up the fact that many millionaires have been created through pre-construction investing and many more will be created in the future. Pre-construction investing, just as its name implies is a type of investment in which investors purchase ‘options’ on the property before ground is broken. This is very popular in high demand areas that are known to experience housing shortages as prices often rise quickly and the units are often sold before they are completed and any ‘real’ money exchanges hands.
3) Flipping houses. This is a type of property investment that has made leaps and bounds in the last few years thanks to the popularity of many popular home improvement and house flipping shows on cable networks in the last few years. More and more people have decided to pursue this sort of investment in hopes of creating big profits in a short amount of time and with minimal investment. The problem, of course, is that it always looks much easier on television than it is in person. Couple this with the fact that many people have unrealistic expectations when it comes to costs and ability and there are plenty of risks involved with this type of investment as well. For those who are successful however, there is the potential for great profit in a relatively short amount of time as these televisions shows indicate.
4) Buy and hold. As mentioned above, real estate tends to gain value over time. Even if the buildings are in desperate need of TLC and repair the very land they are standing on is more often than not gaining value as the years pass by. Purchasing large lots of land or even several houses and holding on to them for as long as possible before selling can often fund college educations for children, pay for weddings, or greatly supplement retirement funds. The longer these properties are held the better in most cases as this provides the greatest opportunity for the value of the property to increase.
5) Lease options. There are few people in this world who never experience rough spots financially. Many of these people are denied traditional home loans because of their inability to cover debts properly in the past. For this reason they are often willing to pay for the privilege of rebuilding their credit while working towards a path of home ownership. For these people, a lease option presents a workable and often valued solution. Those investors who are willing to take the risks often find the rewards are well worth those risks.
These are only some of the investment opportunities that exist for those who are interested in real estate for an investment avenue. There are commercial real estate endeavors that have the potential to bring in big profits as well as the development and planning of housing communities as well. Needless to say real estate investing offers many opportunities to the savvy investor.
The author is an avid blogger on the topic of investing. Read more at South African Riches!
The City of Manor, Texas
By Ki Gray
Manor is the name of a small city east of Austin, and this small community has many noteworthy attractions. The city was settled in 1872 when it was named after its first postmaster, James Manor. Manor currently has an approximate population of 5,500, a figure which was derived from the number of utility service connections, and the city is twelve miles northeast of downtown Austin.
Manor has an area of 1.1 square miles, and in the 2000 census, there were 405 households reported, including around 289 families. 365 of the households in Manor reported children under the age of 18 living in the home, and 47% of the households included married couples. The median age of the population is 32 years, which is about average for the state of Texas. The racial makeup of Manor is quite diverse: 53% of the inhabitants report being White, while 16% claims African-American ancestry. 25% of the inhabitants report other racial backgrounds, and 48% report some Hispanic or Latino ancestry, and many of the residents are a combination of the above.
The median income for households and families is between $37,000 and $42,000, and the population has a slightly higher percentage of women than men. School students in Manor attend Manor Independent School district schools, including Red Rock Elementary, and since 30% of the population is under 18 years old, there are many students in the Manor area. The average family size in Manor is 3.54 people, with 9% of families reporting a relative over the age of 65 living in the household.
There have been numerous films and other theatrical productions filmed in the area, some as a result of the small Texas town atmosphere, such as the T.V. show “Friday Night Lights”, which was partially filmed in the Manor Mustangs football field, as well as the movie” What’s Eating Gilbert Grape?”, which was also filmed in Manor. Due to the reasonably flat terrain and frequent tornado-prone weather conditions, parts of the movie “Twister” were filmed here as well.
Manor is a rapidly growing community, and is located on Highway 290 West fairly close to the intersection with I.H. 35. The recently built Highway 130 interchange with Highway 290 has made the city even more accessible, since State Highway 130 now traverses from I.H. 35 all the way to Highway 71 East, and is part of the new Central Texas Turnpike System, which will soon be expanded and connect even more of central Texas.
The median home value in the Manor real estate market is about $73,000 which is much less than the $200,000+ homes found in the nearby Austin real estate market. Manor is known for quiet living and a rural atmosphere, but since Manor is also strategically located near the U.S. 183 corridor, the community is very convenient for those who work in the high-tech computer industry which is centered north of Austin. In fact, the Chamber of Commerce in Manor proudly presented the Manor Chip Festival in 2007 to celebrate the computer and high tech industry as well as old-fashioned fun. The festival was held at the new High Tech High School in Manor in 2008, and proclaimed its motto to be “Let the chips fly”, and featured family-oriented games and contests, some utilizing chips in the races and games.
Some popular eateries in Manor include Ramos Restaurante, a Mexican food place, and Papa Geno’s Family Pizzeria, a pizza joint. There is a lovely park in the Manor area called East Metropolitan Park, which is located near U.S. 290 and the intersection with F.M. 973, and the park includes various ball fields, an 18-hole disc golf course, playscapes, ponds, concession stands, restrooms, and hiking trails. Admittance to the park is free and it is open on a daily basis, although there are nominal fees for the use of the swimming pool and certain ball fields. The park is in the process of expanding, and will eventually include even more amenities, but it currently provides all kinds of recreational opportunities for the residents of Manor and visitors alike.
Manor is an ideal place to raise a family, and is affordable, with close proximity to all areas of Travis County, especially the northeast portion of the city. Its accessibility to other metropolitan areas such as Houston and other east Texas locations is also a plus, since it is situated on Highway 290 East, yet Manor offers a small town flavor and many advantages of rural life. Manor is a worth considering if one is relocating to central Texas, and a great place to visit as well!
Ki is a realtor that helps people looking for homes and condos in the Austin real estate market. His site has a search for Austin homes along with information on Manor Texas real estate.
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Monday, October 27th, 2008 at 3:00 am and is filed under realestate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
