Real Estate Investing – Finding Cheap Houses

Ask him where he lives, or follow him home. He knows where the “cheap home” can be found. Chances are, his whole neighborhood is a good target area for searching out a “cheap house” for starting a real estate investing career Darcy Mercieca.

“Cheap homes” do not reference ghettos or slums necessarily. Real estate investing in these areas might embrace federal grants or HUD Section 8 housing.

I get occasional calls questioning the existence of “cheap homes” in certain parts of the country. “Cheap” means a different price to everyone. The outcry of these challengers is that Los Angeles has no “cheap” houses, with its average housing cost exceeding $600,000.

My focus in this article is the use of “cheap homes” as a starting place for a real estate investing career. “Cheap homes” in this article is NOT the bank “red lined” crime area, or where prostitutes and drugs are rampant, or where housing has been severely abused or neglected by property-owners and/or tenants. And “cheap homes” in this article is not the dilapidated or burned-out building.

My definition of “cheap homes” for the beginning real estate investor is the less-expensive housing that accommodates the middle-low or middle class citizen. The risk for real estate investing is usually low.

I bought $1 million in “cheap houses” during each of my first two years when I started my real estate investing career. I had acquired $10 million of these “cheap houses” within 4 years. Real estate investing is real estate investing, wherever you live, and relatively speaking, “cheap houses” abound everywhere.

“Cheap homes” are at the other end of the housing spectrum. Every community in the country has cheap homes, because the predominance of the population lives in inexpensive housing.

I contend that “cheap houses” are the lowest risk property for beginning a real estate investing career. And I argue that “cheap houses” can be found all over our country.

“Cheap homes” are at the other end of the housing spectrum. Every community in the country has cheap homes, because the predominance of the population lives in inexpensive housing. My focus in this article is the use of “cheap homes” as a starting place for a real estate investing career. “Cheap homes” in this article is NOT the bank “red lined” crime area, or where prostitutes and drugs are rampant, or where housing has been severely abused or neglected by property-owners and/or tenants. My definition of “cheap homes” for the beginning real estate investor is the less-expensive housing that accommodates the middle-low or middle class citizen.

“Cheap homes” is a very ambiguous term that is relative to an area. “cheap homes” have lower value in a rural community than in a populous area like New York City. Even adjoining counties in any State may maintain different definitions of “cheap,” even though separated by only a few miles.

Real estate investing expertise can certainly accommodate the luxury home market. To get “stuck” with any home that does not sell easily can be treacherous, but sluggish sales for the luxury home can be disastrous.