As we've previously mentioned, there are all kinds of investment strategies real estate investors can use to build wealth. In today's market, while inventory remains high, most investors are sticking with the buy and hold strategy. This allows them to purchase a home and retain it while the market slowly stabilizes and home values are given a chance to rise. These investors choose to keep the home as an asset or become landlords and rent the property.
There are other investors who are still interested in flipping houses. Again, because of the large inventory of homes, this isn't too popular of a practice anymore, but it can still be done if it's done right. The key is to purchase a New York investment property at the lowest possible price.
Another strategy is wholesaling houses. While this is more of a short term investing strategy, it does give investors a chance to make some profit without having to do much work. Wholesaling involves an investor getting a property under contract. He in turn tries to assign that contract to another investor who is ultimately responsible for purchasing the property.
You want to purchase an investment property at the lowest possible price. This will allow you room in your budget for repairs, as well as advertising for the property once it's ready for sale.
A site we frequently use to help us with all of the above is MyHouseDeals.com. They offer access to investment property leads in the NYC/Tri-State area, as well as other markets throughout the U.S. These leads are comprised of wholesale deals and motivated seller leads, which are great bargain priced properties. The site also allows investors to post their own wholesale deals, making it easy (and free!) to generate exposure for your property.
If any of these strategies sounds like something you are interested in, then give the site a try!
Wholesale Houses
New York
Wholesale Houses