The fastest growing commodity in the United States is real estate. In 2005, it increased in value by 12% compared to other goods and services that increased by only 4.5%. With such a high return on their investment, many people are purchasing real estate instead of stocks and bonds.
Some investors choose to invest in run down properties. They buy for a low price and hope to sell for a higher price once the necessary improvements to the house and yard are made. Many investors choose to do the repairs themselves, saving on labor costs. Others hire contractors to do the work. Either way, it is expected that the cost of repairing the home will increase its value. The new value is anticipated to exceed the original cost plus the cost of repairs. If the owner can rapidly sell the property, he/she can recoup their investment, make a profit and move on to another real estate purchase.
Other investors purchase properties that are vacant and require little repair to make them marketable. These houses can be resold or rented out. Here the owner has made the decision that the investment will be reimbursed over time. The monthly rent on the property must exceed the owners...
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