Er, does it seem like everyone wants to sell you their real estate for ONE MILLION DOLLARS? Do you often feel like those you want to purchase property from are all mad Dr. Evil's with their proverbial pinky fingers at the corners of their snarky little mouths? All wanting to sell the trash dump they bought in the 80s for 20K for ONE MILLION DOLLARS? I am AMAZED when I scroll through MLS, listing after listing, realizing that in North Carolina "It may have all been done already..."
But Al Fesperman doesn't give up that easily, no sirree. One of the best investments I have found is trailer parks. If you can find 'em, they are a good buy. One of my investment partners has been buying up all of the trailer parks in Asheville. Why? Because the zoning ordinances no longer permit new trailer parks to be formed in the city limits. Noses in the air, many of you folks might think you wouldn't be caught dead with even your well hidden LLC owning a lowly trailer park, right? Well think again brothers and sisters! Trailer parks are hot and they can cash flow like nobody's business. So if you're thinking "Laundromat or trailer park....?" Pick the trailer park. A word to the wise, it is a good deal if you can get it for less than $30K a pad. More than $35? Too high and too risky. Some of these beauts are in prime real estate locations so in a few years you might even be able to sell your property for the price of gold.
Another solid investment right now is in a little known Carolina Internet think tank that is operating under the name People to Spaces (http://www.peopletospaces.com/). I met with these guys last week for a client of mine who is marketing high end gold jewelry and they told me that their firm is working on a project that will revolutionize the way people look for real estate in North and South Carolina. These kids were so pumped up about their ideas! I believe that anyone should hitch their wagon to these kids. I'll be reporting later on their official launch of their marketing endeavors, but I should tell you that in my experience there are beautiful websites that have no purpose and purposeful website that have no design. What good is a website if it makes your eyes bleed? All that blood, you can't even read what's on there! LOL!
Lastly, property in Madison County is currently at an all-time high due to the many developments that have popped up over the past three years. My advice is to wait to buy Madison County property until that market corrects itself. McDowell County, on the other hand, is a great place to invest. Eventually, McDowell is predicted to pick up on the growth out of the Hickory Charlotte corridor, but for now, real estate can be picked up for a song compared to other areas around Asheville. Henderson, Transylvania, and Haywood property is also slightly inflated so do your homework on the history on an investment property or you could wind up losing your shirt.
There are several kinds of properties you should watch out for when choosing investments. One of these is the dreaded "gated community." Make sure that the water situation has been worked out and that your well is on your property-- if it is a community water system, check into whether or not this impacts your homeowners dues. Many people who expect a clubhouse with a swimming pool in these communities is finding out that the builder/owner cuts corners and they wind up with a steel building with a pool table inside. Not cool!!!!! North American Land has a horrible reputation so I would say don't buy any of their property. Idylwood Properties has a few developments that are community minded and earth friendly in their design. Some people like that. Some of the developments are really far out in the boonies so you don't want to invest in something that is so far out that you'd feel like Jack Nicholson in the Shining by the time you left the development. Here's Johnny!!!!!!
Feel free to leave me your thoughts. I know I'm not the Nostradomas of Carolina Investments, but I am Al Fesperman. And the ladies love me.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment