During the last 12 to 24 months, investors have been buying almost every low end listing of homes and condos that hit the market. Prices in some cases have moved up by 100% on some of the most distressed condo properties.
Do you feel like you missed the boat? We don’t believe so; although, certainly prices will not continue to rise as swiftly for this particular class of assets in the next few years.
There is, however, one group of properties that is now catching the attention of investors because of the huge upside potential. Luxury homes and condos are not typically sold on the basis of affordability, but rather on the basis of supply and demand.
I believe the best returns in the next several years will come from buying distressed luxury properties that need renovation or completion. You can also build a new luxury home, and assuming you have the right builder, there should be plenty of equity left when you are done.
Apparently, I am not the only one who feels this way. Read “Investors Place Their Bets on Luxury Homes”. Send me an email if you are interested in finding out how you can profit by building or buying luxury homes.
Have a wonderful week.