Jun 29

If you are dismayed when you walk out your front door and see ‘for sale’ signs dotted along the lawns of homes up and down the street you are probably not a real estate investor. Most of the time when investors see a town that is beginning to resemble an old west ghost town they get Goosebumps, but not the eerie, creepy kind, the kind that means money is ready to be made.
A town that is struggling can be a great investment opportunity. There are a few things to look at to make sure you are getting a possible good deal, not a real ghost town in the making. Some questions to ask before jumping into a low price market are: Are the businesses solid in the area? Are the surrounding properties in good condition? Is the neighborhood appealing?
Other things to take into consideration before jumping on that ghost town property is how far from conveniences they are. Once upon a time more remote homes were considered attractive as a way to get away from the ‘rat race’ and the hustle and bustle of the city even while owners commuted back and forth to big city jobs—thanks to the gas crunch that isn’t so anymore. Having to commute long distances to a job is not appealing and homes that were once valued for their seclusion now sit on the market forever.
In many cases the massive foreclosures of the last few years have left a lot of once affluent neighborhoods struggling but still only in need of a little help. The homes are in generally good condition and the area has much to offer, those are the values to look for when considering a real estate investment.  Buying these properties is actually good for the area because growing numbers of vacant properties soon lures in a criminal element that runs down once beautiful towns. Investors come in and restore the equilibrium to such cities and providing a beautiful living area to those in need.

One Response to “Real Estate Versions of a Ghost Town”

  1. Jay Berwick Says:

    You Know that is the same thing I was thinking!.. a
    A investor comes in and buys houses, fixes or rehab’s then sell’s to people in the (not so good credit) range! this gives the people who have been turned down by the banks!!! a chance to own their own home. Not just a renter for the rest of there life! this is what I want to do with the little town I live in. Make it better for everyone. O yah and make a great living $.

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