As discussed in an earlier post, real estate investment can be a very lucrative and profitable enterprise. However, since it is a market that is spread over towns, cities and entire countries, it is very important to get correct, reliable and timely information for you to be able to profit from.
Adam Ginsberg reveals the sources that he goes to when he is looking for reliable, up-to-date information on real estate markets.
According to Adam, newspapers, magazines, websites etc., make for a good source of multiple, up-to-date listings that can provide an investor with accurate scenarios, like prevailing prices, development projects, reputed agents etc., in a particular market.
Realtors or real estate agents are probably the best source for the latest information on a particular locality or town as they are the people with their ear to the ground. A reputable realtor can be a useful ally in getting you the latest information and great deals in their market.
Banks and public agencies
Banks and certain public agencies can offer some great investment opportunities in properties owned by them, which they have been unable to sell. These properties usually require a considerable amount of renovation, but the upside is that these are priced much lower than their market value. Adam Ginsberg highly recommends building relationships with people handling real estate departments in banks and other govt. agencies.
In the last few years, bank foreclosures have emerged to be a great opportunity to make money in real estate. Because of the huge number of foreclosures that have happened because of the economic downturn, many investors have managed to snap up some really great deals, especially with banks being in a hurry to liquidate their holdings. Buying a foreclosure property may require you to spend some extra money in renovating the property, but because you can buy the property much below the market price, the cost of renovation won’t seem like much.
The various resources mentioned by Adam Ginsberg above can prove to be very profitable for your real estate investment, provided you do your research into which properties would suit your investment model and which ones you could sell faster.