Real estate investors are rebuilding America.
In light of all the recent activity and positive buzz about the current real estate market, do you find yourself wondering what it takes to become an investor? If so, you are not alone. As more and more people look for ways to build their streams of income, curiosity levels about getting involved with real estate investing are on the rise.
Last month the nation’s largest and most active real estate investing social network, BiggerPockets.com, joined up with MemphisInvest.com, one of the nation’s leading providers of single-family rental real estate investment services, to conduct a survey of residential real estate investors across the country. They put together a report called “Real Estate Investment Realities” based on their survey findings.
As the report title suggests, the goal of this initiative was to help shed light on the realities of real estate investing in today’s market and squash some of the misconceptions out there.
Some popular investing strategies today include rehabbing, and fixing and flipping properties. While it costs money to renovate or rehab a property, it doesn’t necessarily mean you have to have deep pockets to do so. In fact, among the real estate investors surveyed by BiggerPockets.com and MemphisInvest.com, most indicated that they plan to spend a median of $7,500 each to repair and rehabilitate their next purchases. Some 20% indicated that they plan to spend $10,000 to $30,000 on their next property, and 16% said they plan to spend even more than that, estimating $30,000 or more.
This information is important for more than one reason. First, it gives you valuable information about what investors plan to spend on repairing and rehabbing a residential property. It also shows how investors are taking action to continue the positive trend in the housing market. BiggerPockets.com and MemphisInvest.com found that, at a median expenditure of $7,500 per property, investors are spending a total of $9.2 billion per year to repair the damage caused by foreclosures and rehabilitate the nation’s housing stock.
They reported that investors are spending more on restoring the housing stock than the federal government. Furthermore, in 2008, Congress approved the Neighborhood Stabilization Program to restore properties damaged by foreclosure. Its total budget to date is only $7 billion. Thus, investors are spending more each year than the government has spent in four years.
You might say that real estate investors are helping to rebuild America’s economy, and you wouldn’t be wrong. The facts speak for themselves. Becoming a real estate investor can have many rewards for you, your family, and the country.
If you want to find out more about what it takes to become a real estate investor, check out the systems and tools used by other successful investors. The MemphisInvest.com team’s system enabled them to create success over the past eight years –during one of the roughest times in U.S. economic history. They recently teamed up with Real Estate Worldwide, Inc., a real estate investing education company, to grant other investors access to their complete “turn-key” system. So there you have it. Successful investors continue to help improve America’s economy by teaching others what they know.
Real Estate Investment Realities National Survey of Residential Real Estate Investors. BiggerPockets.com and MemphisInvest.com. September 2012.
Neighborhood Stabilization Program Grants. HUD.