Building Momentum Haults!

A continued sign that we are still at the bottom of the well is the drop in new home construction.

“The Commerce Department says home construction plunged to a seasonally adjusted 479,000 homes last month down 22.5 percent from the previous month.  It was the lowest level since April 2009 and the second-lowest on the records dating back more that a half-century.” (The Associated Press)

It seems that the housing market is not going to help our economic recovery.  That being said, for those who gambled wisely and have money to invest – it’s a great time.  In Syracuse there are currently over 100 multi-unit investment properties for sale.  It is a buyer’s market, there are bargains to be made and deals to be struck.

It’s all about the numbers.  Right now we have properties that have sold for $21k even a few around $7k.  Granted they require rehab but if you can buy something for twenty thousand, put in 10k in repairs then rent out two units for $1300.00 a month – I think it’s worth looking into.  Real estate is a long term game – the days of quick money are over!  Real estate is a investment where your money grows over a long period of time.  Do your due diligence and make long money not short money . . .  Rest in Wealth.