So now you’ve learned about how much money is in investment real estate and you want a piece of the pie. You picked your city that you want to invest in (Orlando, Miami, Las Vegas, Ft. Lauderdale, Tampa, St. Petersburg) and then it hits you. . . What investment project or development should you buy, with so many out there how do you choose which project to invest you hard earned cash on? It can be tricky to find the right investment property because chances are after you heard about a project it’s way to late to invest in it. Sure your buddy may have made a killing on a pre construction project or development but the ship has already sailed. You need to find a similar project or development that is going to skyrocket in the same way. In this article I will teach you how to find these elusive pre construction investment developments and projects.
1. Contact a reputable investment brokerage and see what they have available. Many brokers like myself focus on preconstruction real estate and because of past dealing these brokerages will be well informed from the developers on new projects they are planning. This is by far the easiest way to learn about preconstruction developments because most of the time by the time you hear of a pre construction development or project via the grapevine it’s too late.
2. Ask other investors online. There are many real estate investment forums online where you can go in and ask other investors what they think about a certain project or development. You may learn that some developers are constantly changing the developments or projects or you may learn that management company is great at renting out your condo. Information I power and the more people you can meet and talk about investing the better.
***Beware*** Some developers will sign into these forums and act like a fellow investor only to promote their own projects or developments. Don’t just take the word of one person and remember to do your due diligence.
3. Drive around the area you want to invest. I know many investors don’t live by the area they are going to invest but if you can take a weekend and fly down to Orlando, Miami, Las Vegas, Ft. Lauderdale, Tampa, St. Petersburg or wherever you’re going to invest and look for signs for new developments. For example if you fly down to Orlando and drive down rt 27 you’ll see dozens of new projects opening up and all you have to do is call the developer for more information. Often time I will just stop in a gas station and ask if they know of any new real estate developments opening up and you’d be surprised how many times I hear there is one opening up right down the road.
Narrow your search by sticking to key investment cities such as Orlando, Miami, Las Vegas, Ft. Lauderdale, Tampa, or Petersburg. Don’t waste time by searching areas that are not going through a “boom”.
Like I said earlier you probably want to just find a trustworthy real estate brokerage that focuses on preconstruction projects and developments for the simple fact that these firms make their money from making their investors happy and the only way to do that is through making them money. However if you take the road less traveled who knows what kind of diamonds in the rough you’ll find. Also, you may learn more about the developments or projects by actually going out and researching them yourself. I know people that
For more information on real estate investment developments or projects in the Orlando, Miami, Las Vegas, Ft. Lauderdale, Tampa, or St. Petersburg area feel free to give me a call or visit my website http://www.investrealestate101.com .
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