Replies to post #2600 on Real Estate Bubble (RUBBLE)

[dickmilde]

Well that remains to be seen. It's too early to say for sure that we are in the clear on housing. I bought two very attractive investment properties last year

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71305534

so I put my money where my mouth is. So far, at least in my area, prices have firmed and are actually ABOVE the high of the 2007-2008 time frame. In years past we have purchased new construction for investment but the price difference is huge right now and the only way to go is with pre-owned real estate. Everything is occupied and rent checks are in the mail box... I don't have to chase people for the rent. That's a huge advantage to investing in higher priced/quality homes... The rents are higher and people that lease can afford the rent because they have a decent job. We have a vacancy coming up in January so the place will get a complete upgrade... Hardwood floors, granite counters, stainless appliances, custom finish on kitchen cabinets , new carpet and paint. This property is in a prime location and will not be vacant for long. We will receive top $$ for a good return.
I'm looking for another one but the selection has narrowed considerably, and prices are up. I'm a long term investor so the location is very important... Those properties are hard to find in my area right now... at least for a decent price.