Personal Finance Guide

Millions of Americans lost a quarter of their 401k savings in 2008, according to the Washington Post. This sudden loss of capital has many baby boomers scratching their heads, wondering how they can recoup some of their losses in a hurry. In the past, real estate was always a “safe bet,” since housing values were always climbing and people were always buying. As you know, much has changed over the last couple of years. Even so, if you approach investment properties with a wise business plan and look for the right real estate investment property deal, you can still come out ahead.

One type of profitable investment property is the vacation home market. Many investors look into overseas property where conditions are favorable to American investors. According to the Association of Foreign Investors in Real Estate, a non-profit trade group, some of the ideal foreign places to invest are safe bets like London, England; Paris, France; Shanghai, China; Tokyo, Japan; Singapore; Munich, Germany; Sydney, Australia; and Hong Kong. The idea with buying investment property overseas is that you must look for location, location, location! Choosing a safe, industrialized city, which sees a good deal of tourism each year is a smart bet. Many investors also like coastal beach properties to rent out as well. According to the editors of Live and Invest Overseas Magazine, the top coastlines to check out are: Veraguas (Panama), the Samana Peninsula (Dominican Republic), the Rocha province (Uruguay), Salinas (Ecuador) and Boracay (Philippines).

Creative real estate investment properties include mixed-use buildings, which are becoming more and more popular nationwide. Instead of purchasing office complex investment properties, a buyer would purchase a building that contains office space, condo/apartment/hotel units, restaurants, shopping facilities and entertainment venues. Since there are different types of businesses in mixed-use buildings, the space is more likely to weather any kind of economic storm. Los Angeles engineer Wayne Kalayjian states that mixed-use is an emerging movement and cultural shift, not just a passing trend. “Under this concept, our homes, shops, offices and transportation centers are more integrated and in close proximity,” he says, “which decreases commuting time and expense, conserves energy, heightens quality of life and enhances a feeling of community. And it’s particularly attractive in our suburbs, which are especially susceptible to urban sprawl.” The best location for such US property is in a thriving metropolitan city or active suburban community, where a lot of people live, work and play.

There are several different places to find investment properties. You can browse the newspapers or Multiple Listing Service (MLS) websites in search of buildings for sale near you. You might also enlist the help of qualified mortgage professionals to guide you to the ideal deals. Sometimes they’ve access to unlisted properties or expired listings you wouldn’t otherwise be able to find. Property auctions and tours of government foreclosures can also be a way to find deeply discounted buildings that are up for sale. Before you take this massive step, be sure you’ve taken classes, investigated building trusts and decided how you’ll manage the ownership of this new property.

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