Investors and Real Estate Investment in Hampton Roads
Real estate investors are a diverse group of individuals. Whether they're investing in foreclosures, rentals or short sales, they can make money in Hampton Roads. Savvy investors know that a key element to locating the best properties is having a trustworthy agent who knows this business. Our agents understand the difference between investors and traditional homebuyers. What's more is these professionals know how to quickly help both seasoned and new investors find what they are looking for at the lowest prices.
A real estate investor invests his money and or time and expertise into a piece of property for the purpose of producing a profit. Some are full-time investors but more often than not, many add to their portfolios on a part-time basis. That's the beauty of investing; there is no set timeframe, nor is there a cap on potential earnings.
Recent economic slumps and the subprime loan crisis have led many people to listen to those inner investors within and for good reason. Hampton Roads is ripe with opportunity and our agents know exactly how to help. Typical ways of investing include:
- Foreclosures - This is a popular term often tossed around in many conversations. There are two main types of foreclosures investors may like. The first are courthouse auction properties. The second are REOs, or Real Estate Owned homes, which are bank-owned properties.
- Estate Sales - Family members are often left with homes they don't want after a loved one dies. Our agents can coordinate details of property probate sales to ensure smooth closings.
- Fixers - Buying ugly homes and making them pretty for a profit still remains a popular way of investing. Our agents can check comps and connect investors with contractors for even better results.
- Short Sales - This term can create quite a buzz. An alternative to foreclosures, these sales occur when a lender agrees to settle for less than the balance actually owed on a home.
- Buying Rentals - Investors can either become active landlords or to enjoy more passive income, they can turn homes over to property managers.
Creative strategies are becoming more commonplace in the world of real estate investing. A few lesser-known ways to invest in property include:
- Buy and Hold - Certainly not the fastest investing strategy, this slow and steady method works every time for investors who have the patience to wait.
- Teardowns - Real estate that is simply too dilapidated to be rehabbed may be sitting on valuable land. These eyesores may present unlikely possibilities.
- Pre-foreclosures - Beat the clock when it comes to foreclosures. Instead of fighting over auction properties or REOs, why not bargain with sellers before foreclosure proceedings begin?
- Abandoned Properties - Get one of our real estate agents to do some detective work on a vacant house in Hampton Roads; there could be a bargain here!