Property Nobody Wants: How To View And Purchase This Real EstateShare
Some real estate sells itself, and then there is the real estate that nobody wants, no matter how hard a real estate tries to sell it. If you are looking for real estate to buy, do not pass on the properties on which everyone else has taken a pass. Here is how to view and purchase this real estate.
Abandoned industrial properties are a ton of work to renovate and/or remodel. This is why previous buyers passed on them. However, they failed to see that if they put just a little bit of work into these properties, they can make them more attractive to other buyers who would buy the properties and finish the renovations. Of course, you could just completely renovate and remodel the properties before donating them to charities. While this is an incredibly expensive donation, it is one that could give you a massive tax break when you are already quite wealthy.
Land on Which You Cannot Grow Anything
Land with no structures on it, and no ability to grow anything as the soil is devoid of nutrients or is only sand/clay mixtures, is another type of real estate that gets passed up regularly. However, razing the land to an even level, adding nutrients and rich top soil plus black soil, and then waiting for nature to take over will produce a piece of land that will be very desirable to others. If you are a visionary, this type of land restoration project is ideal. You will be creating property that changes the environment and changes how others see it. It is the quickest way to turn a profit in the real estate world, and you do not even have to build anything on the property (just make it green and pretty).
Fringe Real Estate
Fringe real estate is a growing trend in the real estate world. Cities want to take the less-than-attractive areas of the city and make them beautiful. They are often looking for investors who will either A) buy up properties to convert them into business properties, or B) work with the city and invest their money and resources into these properties for bragging rights and city-wide notoriety. You can choose which type of investment you want to be a part of, if your city's department of urban development offers you a choice. Then you will be able to select from certain properties that the city would like to renovate/remodel "on the fringe."
For more information, talk to a real estate agent.